Consensys announced the spin-off of its MetaMask business, with MetaMask focusing on consumer finance. The original Consensys will be renamed MetaMask, and Joe Lubin will serve as CEO.
Consensys Software Inc., an Ethereum ecosystem company, will split into two independent entities, separating its consumer-facing MetaMask business from its institutional and infrastructure operations. The existing Consensys Software entity will be renamed MetaMask, with Joe Lubin serving as Chairman and CEO. It will focus on self-custodial consumer finance, expanding into payments, savings, and investments. MetaMask currently boasts over 100 million downloads in approximately 190 countries worldwide, with cumulative transaction volumes reaching trillions of dollars. Concurrently, the Protocols Group of the original Consensys Software will form a new company named Consensys, focusing on Ethereum and institutional blockchain infrastructure, including the Linea network and the Besu and Teku clients. Mike Kriak will serve as CEO, David Cunningham as President, and Lubin as Executive Chairman of this new entity. The split is expected to be completed by the end of 2026. The company stated that this move reflects the growing demand from financial institutions for tokenization, stablecoins, and blockchain infrastructure as they transition from pilot programs to production deployments.
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Source:The Block · Source Link
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