Consensys to Split MetaMask and Institutional Business Into Two Companies

Consensys, an Ethereum infrastructure developer, is separating its retail business from its institutional operations.

The company said on Sept. 9 it will rename its current legal entity MetaMask. That entity will operate the MetaMask cryptocurrency wallet platform and products and services for retail users. Consensys founder Joseph Lubin will serve as chairman of MetaMask’s board and chief executive officer.

Consensys’ protocol group and institutional blockchain infrastructure business will be transferred to a newly created entity, which will take the Consensys name. Lubin will participate in its management as executive chairman.

The new Consensys will focus on developing Linea, the Ethereum layer-2 network, as well as infrastructure for institutional tokenization, stablecoins and digital assets.

MetaMask and Consensys will operate with independent management structures and investment strategies. The company plans to complete the separation by the end of this year.

Following the split, MetaMask plans to expand its business into a financial platform that supports multiple blockchain ecosystems, with the Ethereum ecosystem at its core. It aims to provide not only crypto custody and trading, but also access to traditional finance, or TradFi, products in the future.

“MetaMask is evolving into a platform for managing many forms of capital,” Lubin said. He added that the new Consensys will be a protocol company that helps institutions and enterprises collaborate in an always-on on-chain environment.