MetaMask announced that it will enter the next phase as an independent company starting today: the former Consensys Software Inc. has been renamed MetaMask, focusing entirely on the consumer platform; protocols and institutional infrastructure, including Linea, will form a new company under the Consensys name.

The company stated that applications, assets, private keys, and access permissions remain unchanged, and users do not need to take any action. Future resources will focus on making the wallet a platform for holding, spending, trading, and appreciating funds, which will be referred to as open currency. Joe Lubin has been appointed as Chairman and CEO of MetaMask, while also serving as Executive Chairman of the new Consensys; Mike Kriak will be the CEO of the new Consensys. The goal of the spin-off is to be completed by the end of 2026. The platform has over 100 million downloads, covering approximately 190 countries, and has integrated main accounts, debit cards, perpetual contracts, and prediction markets.

Lubin did not disclose a timeline for an IPO or token issuance and declined to comment on capital market activities. The MASK token has not yet been issued. After the separation, both sides still plan to serve as channels for each other: the institutional side will focus on protocols and banking infrastructure, while the consumer side will serve as the personal entry point.

Open currency shifts the narrative from "signature tool" to "self-custody financial operating system." Revenue will come from cards, transactions, and on-chain finance, no longer recorded on the same growth sheet as the enterprise licenses of Besu and Teku.

Mechanically, this is the separation of the entry brand from the laboratory parent company, facilitating valuation based on consumer finance. The beneficiaries are the payment and transaction flows within the wallet; the pressured side is the infrastructure department that still relies on protocol work for storytelling. User assets will not be moved; what changes are the reports and financing stories. Funds will not flow into a new token due to the name change, as there is no new token.

The name change takes immediate effect at the brand level, while the legal separation will wait until the end of the year. The private key path remains unchanged, and risks still exist with existing expansions and card partners.

Source: Public Information