On September 9, Consensys announced that it would split its business into two independent companies: one will focus on developing MetaMask and consumer crypto services, while the other will focus on Ethereum infrastructure and institutional solutions. The restructuring is expected to be completed by the end of 2026.
MetaMask and the Development of the Open Money Concept
Joseph Lubin, co-founder of Ethereum, will become chairman of the board and CEO of MetaMask. The company will focus entirely on a self-custodial consumer platform where users can store, spend, save and grow their funds in crypto assets and traditional financial instruments.
In its official press release, the company said MetaMask users do not need to do anything. The app, assets, keys and access will remain unchanged. The platform will continue to connect users to tokens, DeFi protocols and networks, while expanding its support for tokenized traditional financial instruments.
The company calls this next stage Open Money: money that people hold themselves, move across networks and borders, and use without an intermediary setting the rules. MetaMask is positioned as the operating layer for this model — a single place where assets remain under their owner’s control.
The first product built around this idea is already here: Money Account. It brings automated yield, instant spending and one-click trading together in a single self-custodial balance. The wallet’s security model, which the company has been building for the past ten years, will remain unchanged.
Consensys to Maintain Its Focus on Ethereum
The protocol and institutional businesses, including Linea and clients using Besu and Teku, will be separated into a separate company called Consensys. Mike Kriak will become its CEO, David Cunningham will serve as president, and Joseph Lubin will take the role of executive chairman.
Consensys will continue developing Ethereum and related protocols, including Linea, while also building infrastructure for banks and asset managers. Key areas will include tokenization, stablecoins and programmable payments. At the same time, the company will maintain its partnership with MetaMask and continue developing B2B and B2B2C solutions built on Ethereum.