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SOL Consensus Software announced its spin-off into two independent operating companies
Ethereum software company Consensus Software Inc. It was announced that it will be split into two independently operating business entities, and the separation is expected to be completed by the end of 2026. The original legal entity will be renamed MetaMask and shifted to a consumer finance strategy; the newly formed company will retain the Consensus sys name and focus on the development of the Ethereum (ETH) protocol and the construction of institutional blockchain infrastructure.
Co-founder Joe Lubin will serve as chairman and CEO of the new MetaMask company. Mike Kriak will serve as CEO of the newly formed Consensus sys and David Cunningham will serve as president. Lubin will also serve as executive chairman of the new Consensus sys entity.
MetaMask moves towards a new banking model
MetaMask has more than 100 million downloads in approximately 190 countries around the world. The company said it has processed trillions of dollars in cumulative transaction volume since launch. In the past year, its product line has expanded from pure cryptocurrency storage to a broader financial services field.
In early 2026, MetaMask launched a payment card in cooperation with MasterCard, where users can receive rewards denominated in mUSD stablecoins. In June of the same year, the company launched the "Money Account" feature, allowing users to earn an annual rate of return (APY) of up to 4% on mUSD. This account balance can be used to consume, trade and participate in the forecast market through MetaMask cards.
Following the previous integration of Solana (SOL), MetaMask added support for Bitcoin (BTC) in December 2025. Users can now manage BTC and assets on Ethereum and other support networks in the same interface. In addition, MetaMask launched mUSD stablecoin on Ethereum and its Layer-2 network Linea in 2025.
New Consensys focuses on institutional markets
The newly formed Consensys will be responsible for developing and maintaining Linea, an Ethereum Layer-2 network positioned to attract institutional capital injections. At the same time, the company will continue to advance the development of Besu, an Ethereum execution client widely used for licensing chain deployments by institutions such as Citibank, DTC and Wells Fargo. Teku, the Ethereum consensus client, will also be part of the new Consensus sys.
Cunningham pointed out that financial institutions are moving towards operating around the clock, with tokens at their core. He said the new company will provide the interoperability infrastructure needed by large financial markets. Consensus stated that the main reason for the restructuring was the growing demand for tokenization, stablecoins and blockchain infrastructure in the institutional market.
Lubin revealed to the media in 2025 that MASK governance tokens designed to support the wallet decentralization strategy are under development. According to relevant reports, the company has not confirmed or denied plans for an initial public offering (IPO) or token issuance related to the September 9 announcement. Lubin said the spin-off is an acknowledgement of the reality that consumer finance and institutional infrastructure each require dedicated organizational resources and focus.
