Ethereum builder Consensys intends to divide into a pair of distinct enterprises, breaking off its MetaMask wallet division from the Ethereum protocols and enterprise-grade infrastructure it has cultivated over the past ten years.
The current entity, Consensys Software Inc., will transition its brand into MetaMask with Ethereum co-creator Joe Lubin taking the helm as chairman and CEO.
Meanwhile, its protocol division and enterprise infrastructure operations, which encompass the Linea blockchain, will transition into a newly established organization that will keep the Consensys title, as stated in an announcement.
The division, which positions Mike Kriak as the chief executive of the newly formed Consensys, is slated for completion before the close of 2026. This newly organized business will also feature David Cunningham serving as president alongside Lubin acting as executive chairman.
This organization will build Ethereum architecture and assist financial enterprises in rolling out blockchain frameworks dedicated to tokenized assets, stablecoins, and clearing transactions.
This reorganization follows previous actions where Consensys postponed a prospective United States initial public offering until the upcoming autumn at the earliest, blaming unfavorable market conditions. Reports previously indicated the business had brought on JPMorgan and Goldman Sachs to manage the offering.
CoinDesk reached out to representatives for Consensys this past Tuesday to inquire whether that schedule remained active, but received no response. The official release made no mention of the public offering timeline or which specific unit might seek a stock market debut.
MetaMask, which grants individuals direct control over their digital tokens, has surpassed 100 million downloads according to the enterprise. The platform is currently growing beyond its foundational wallet capabilities into areas like payments, yield generation, and wealth management, which includes connectivity to legacy financial products.
Its newly debuted Money Account integrates stablecoin returns, purchases, and asset exchanges into a single interface. The feature revolves around MetaMask’s native USD-backed stablecoin named mUSD.
Concurrently, the new Consensys will unite the personnel and engineering assets driving Linea alongside Ethereum clients Besu and Teku, targeting foundational technology solutions for banks, fund managers, and enterprise entities.
Originally published at https://www.coindesk.com/business/2026/09/09/consensys-to-split-metamask-into-its-own-firm-while-staying-silent-on-ipo.
