Consensys Software Inc. will split into two companies, the firm said Wednesday. The existing corporate entity will rebrand as MetaMask, running the wallet and consumer products. Co-founder Joe Lubin will be chairman and chief executive. The Protocols Group and institutional blockchain infrastructure business, including Linea, becomes a new company named Consensys.
What each side keeps
The split separates Ethereum’s most used wallet from one of its largest protocol development shops for the first time since Lubin founded the company in 2014. Each side gets its own chief executive, board and capital allocation. The consumer business sells stablecoin yield and card spending. The enterprise business sells tokenization infrastructure to banks.
Mike Kriak becomes chief executive of the new Consensys. David Cunningham is president, and Declan Fox is chief product officer. Lubin will be executive chairman. That entity keeps Linea, the Besu Ethereum execution client used in permissioned enterprise networks, the Teku consensus client and Consensys’ Ethereum protocol work. The announcement does not say which company takes Infura. Infura’s website now brands it as part of MetaMask Developer.
MetaMask keeps the wallet and the Money Account. That self-custodial product combines automated yield, card spending and swaps. It launched on June 30 and pays up to 4% on stablecoin balances. The company says the wallet has passed 100 million downloads across roughly 190 countries. Completion is expected by the end of 2026, and users need to take no action.
The institutional pitch and Linea numbers
Cunningham framed the institutional side around settlement plumbing. He said financial institutions and market infrastructure are moving to always-on operations with tokenization at the core. The release cited a June 2026 Citi report estimating tokenized assets could reach $5.5 trillion to $8.2 trillion by 2030.
Linea’s own numbers are smaller. The network holds $29 million in DeFi deposits, according to DefiLlama, against $38.1 million in stablecoins issued on it. LINEA trades at $0.002664, down 2.2% over 24 hours and 94% below its September 2025 all-time high, according to CoinGecko. That gives it a market capitalization of $65.3 million. Another 960 million tokens unlock on Sept. 10. The token launched at roughly a $500 million market capitalization a year ago. Lubin teased further rewards for holders after it halved within weeks.
The $MASK question and IPO silence
Neither the press release nor Lubin’s blog post mentions a MetaMask token. Lubin confirmed on The Block’s podcast in September 2025 that a $MASK token was coming. He tied it to the decentralization of certain aspects of the MetaMask platform. The company registered a claim.metamask.io domain in October 2025 and has not shipped a token since.
The announcement is also silent on the initial public offering the company has been preparing. Axios reported in October 2025 that Consensys had hired JPMorgan and Goldman Sachs to advise on a listing. Which entity carries that process forward is unstated.
