Consensys Splits in Two as Joe Lubin Takes the Helm of a Standalone MetaMask

Consensys Software Inc. announced on Wednesday, September 9, 2026, its split into two independent companies. The parent company will be renamed MetaMask and led by Joe Lubin. Protocols and institutional infrastructure will be part of a new Consensys. The official statement does not mention any IPO, while speculation is already running towards 2027.

Two activities, two strategies

The separation responds to a market evolution. On one side, MetaMask develops an application used by tens of millions of people to manage their digital assets without a custodian intermediary. On the other, Consensys provides software and infrastructure to businesses and financial institutions.

The new Consensys company will notably bring together Linea, its Ethereum-based Layer 2 network, as well as Besu and its institutional activities. Mike Kriak and David Cunningham will lead it. Joe Lubin will still retain a role as executive chairman.

The group explains that these two markets now have different needs. Self-custody of digital assets has become widespread, while banks are gradually moving from pilot projects to real deployments. The separation aims to allow each company to focus on its clientele.

MetaMask now targets financial services

With over 100 million downloads and a presence in about 190 countries, MetaMask is no longer limited to its role as an Ethereum wallet. The application today offers exchange, payment, and savings services.

Its ambition is now to move closer to banking applications and traditional payment services. Money Account, recently launched, illustrates this evolution. This account notably allows combining yield, spending, and purchase of digital assets from a single interface.

Consensys cites a Citi study published in June 2026, according to which tokenized assets could represent between 5.5 and 8.2 trillion dollars by 2030. A sufficiently large market to justify two distinct business strategies.

An IPO in 2027? Nothing is confirmed

The split also reignites speculation about a possible IPO. In March 2022, Consensys raised 450 million dollars in a funding round that valued the company at over 7 billion dollars.

However, the September 9 statement mentions no IPO. Fortune and CoinDesk also noted the lack of details on the matter. An IPO in 2027 thus remains a hypothesis, not an announced project.

There is the same uncertainty regarding a possible MetaMask token, regularly mentioned over several years. For now, the company assures that users will retain their keys and funds in an application that has already extended beyond its original Ethereum framework, even integrating Bitcoin.