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BTC 
ETH MetaMask will operate independently by the end of 2026, and its parent company is betting on the transformation of cryptowallet into a mainstream consumer finance platform
Consensus Software Inc. It was announced on September 9 that it would be split into two independent companies. The original company will be renamed MetaMask and focus on the consumer platform business, while the newly formed Consensus will retain the original brand name and take over the protocol and institutional infrastructure businesses, including projects such as Linea, Besu and Teku.
Consensus sys co-founder Joe Lubin will serve as chairman and CEO of MetaMask and executive chairman of the new Consensus sys. Mike Kriak becomes CEO of the new Consensus sys and David Cunningham becomes president.
Strategic transformation: From crypto wallets to a "new banking experience"
For MetaMask, this split marks the official implementation of its months-long strategic transformation. The company said in the announcement that MetaMask will continue to focus on consumer self-custody services while expanding its business scope from cryptocurrency to payments, savings, investment and traditional financial products.
Comprehensive expansion of consumer business
This transformation process has started as early as 2025. At the time, MetaMask launched its stablecoin mUSD on the Ethereum and Linea networks. In December of the same year, after supporting the Solana network, MetaMask added support for Bitcoin.
In February, eligible users outside the United States gained access to 200 tokenized U.S. stocks, ETFs and commodities through Ondo Global Markets. In the same month, MetaMask Card, which supports Mastercard, was launched in 49 states in the United States. The product has previously been put into use in Europe, Canada, Mexico, Brazil and Argentina.
In June, MetaMask launched the "Money Account" feature, which allows eligible users to earn a variable annualized rate of return (APY) of up to 4% on their mUSD balance and make consumer spending through MetaMask Card. The company's product management team clearly outlined this direction: Johann Bornman, senior director of products, said at the time that the company was committed to creating a "new banking experience."
Lubin pointed out in the announcement that MetaMask has developed into such a platform: "People not only hold assets here, but also manage their diverse forms and aspects of funds here."
Size and prospects
The size data supporting this strategic bet comes from the company's own reports, rather than independent audits: MetaMask claims it has more than 100 million downloads in approximately 190 countries, and cumulative transaction processing has reached trillions of dollars.
It is expected that the splitting work will be completed before the end of 2026. The company did not disclose specific financial details of the split and remained silent on the possibility of an initial public offering or token issuance.
