Consensys splits into two companies as MetaMask becomes independent entity

Consensys Software Inc. is splitting into two independent companies by the end of 2026. The existing entity will rebrand as MetaMask, focusing on consumer finance under CEO Joe Lubin. A newly formed Consensys, led by CEO Mike Kriak, will manage institutional infrastructure, including the Linea network. The restructuring separates MetaMask's 100-million-download wallet from enterprise protocols, though plans for an IPO or a MetaMask token remain unaddressed.

Consensys corporate split structure

• ▪Consensys Software Inc. announced on September 9, 2026, that it is splitting into two independent companies, with the separation expected to be completed by the end of 2026.
• ▪The corporate restructuring of Consensys Software Inc. will not affect MetaMask users' holdings, login credentials, private keys, or app access, requiring no migrations or actions.
• ▪Under the corporate split, the existing legal entity Consensys Software Inc. will rebrand as MetaMask, while a newly formed company will take the Consensys name.
• ▪The September 9, 2026, restructuring announcement did not address Consensys Software Inc.'s previously delayed U.S. initial public offering or clarify which entity might pursue a listing.

MetaMask consumer platform focus

• ▪MetaMask has recorded more than 100 million downloads across approximately 190 countries and has facilitated trillions of dollars in cumulative transaction volume.
• ▪In June 2026, MetaMask launched Money Account, a self-custodial product offering up to 4% APY on stablecoin balances, combining yield, card spending, and trading.
• ▪MetaMask expanded its platform by adding support for Solana and Bitcoin in December 2025, following the 2025 launch of its mUSD stablecoin.
• ▪The rebranded MetaMask entity will focus on self-custodial consumer finance, expanding its crypto wallet into payments, savings, and investing.

Consensys institutional infrastructure business

• ▪The newly formed Consensys entity will house the Linea Layer 2 network, as well as the Besu Ethereum execution client and Teku consensus client.
• ▪The Linea Layer 2 network holds $29 million in DeFi deposits and $38.1 million in stablecoins, with its LINEA token trading at $0.002664 as of September 9, 2026.
• ▪The newly formed Consensys entity will focus on institutional blockchain infrastructure, protocols, and helping financial institutions deploy systems for tokenized assets and stablecoins.

Leadership appointments

• ▪Declan Fox will serve as Chief Product Officer of the newly formed Consensys entity, according to a company post on X.
• ▪Mike Kriak will serve as CEO and David Cunningham as President of the newly formed Consensys entity.
• ▪Joe Lubin, co-founder of Consensys, will serve as Chairman and CEO of the rebranded MetaMask entity.

Governance structure changes

• ▪Joe Lubin will serve as Executive Chairman of the newly formed Consensys entity while simultaneously leading MetaMask as Chairman and CEO.
• ▪The corporate split of Consensys Software Inc. will provide MetaMask and the new Consensys with independent boards, capital allocation, and distinct chief executives.
• ▪The leadership restructuring of Consensys Software Inc. follows the April 2026 departure of MetaMask co-founder Dan Finlay from the company after a ten-year tenure.

7 sources