BlockBeats news, on September 9, according to Fortune, Ethereum infrastructure company Consensys will undergo a corporate split: its consumer business will operate as an independent company under the MetaMask brand, focusing on wallets and related consumer financial services; while its protocol and enterprise Ethereum software business will form another independent entity, continuing to use the Consensys name.
Consensys founder Joe Lubin will serve as CEO of the independent MetaMask company and executive chairman of the new Consensys; long-time executive Mike Kriak will lead Consensys. Lubin stated that one reason for the split is that the consumer business of MetaMask has been growing in value faster than other parts of the company.
MetaMask has expanded from an Ethereum wallet to a platform resembling a digital crypto bank, offering services such as a unified account, debit card, perpetual contracts, and prediction markets. Lubin and company spokespeople did not provide specific information regarding the IPO timelines for either company or MetaMask’s token issuance plans.