Consensys is splitting its operations into two distinct entities. The MetaMask crypto wallet will operate as an independent company focused exclusively on consumer products, including card spending, savings, and trading features. The current parent company will retain the MetaMask name, with Ethereum co-founder Joe Lubin continuing as chairman and chief executive.
The institutional and developer-focused infrastructure, including the Linea network, will move to a newly formed firm that retains the Consensys name. Mike Kriak has been appointed as chief executive of this entity, with David Cunningham serving as president. Both companies expect the separation process to be completed by the end of 2026.
Despite the restructuring, uncertainty remains regarding a potential initial public offering and the launch of a native MetaMask token. While Consensys previously prepared for an IPO in 2026, plans were delayed amid cooling crypto markets and a shift in investor interest toward artificial intelligence. The company has declined to provide a new timeline for any market listing.
