MetaMask Goes Solo as Consumer Platform

MetaMask will become its own company by the end of 2026, and its owner is betting the wallet built for crypto can grow into a mainstream consumer finance platform.

Consensys Software Inc. announced on September 9 that it will split into two independent companies. The existing company rebrands as MetaMask, focused on the consumer platform, while a newly formed company takes the Consensys name along with the protocols and institutional infrastructure businesses, including Linea, Besu and Teku. Consensys co-founder Joe Lubin serves as chairman and CEO of MetaMask and executive chairman of the new Consensys. Mike Kriak leads the new Consensys as CEO, with David Cunningham as president.

For MetaMask, the split formalises a shift that has been underway for months. The company said in the announcement that the wallet will keep its focus on consumer self-custody while expanding beyond crypto into payments, savings, investing and traditional financial products.

The consumer buildout

The buildout began in 2025, when MetaMask launched its mUSD stablecoin on Ethereum and Linea. It added Bitcoin support in December after adding Solana. In February, eligible users outside the United States gained access to 200 tokenized US stocks, ETFs and commodities through Ondo Global Markets, and the Mastercard-enabled MetaMask Card reached 49 US states that month, expanding a product already live in Europe, Canada, Mexico, Brazil and Argentina.

In June, MetaMask launched Money Account, which lets users earn up to 4% variable APY on eligible mUSD balances and spend the funds through MetaMask Card. The company’s product leadership has framed the direction plainly: senior director of product Johann Bornman said at the time that the company was working toward a “neo-banking experience.”

Lubin said in the announcement that MetaMask has grown into “a platform where people don’t just hold their assets, but manage their money in its many diverse forms and aspects.”

The scale behind the bet is company-reported rather than independently checked: MetaMask says it has more than 100 million downloads across roughly 190 countries and has handled trillions of dollars in cumulative transaction volume.

The separation is expected to complete by the end of 2026. The company did not disclose financial details of the separation, and stayed mum on a possible IPO and token.