MetaMask’s developer, ConsenSys Software Inc. (CSI), just announced plans to split its business into two independently managed companies: one focused on consumers, the other on institutional clients. The full transition is set to wrap up by the end of 2026.

What’s happening

The current ConsenSys Software will be rebranded as MetaMask. This new company will keep running the MetaMask platform and all its consumer products. Joe Lubin will stay on as chairman and CEO.

MetaMask’s rebrand and new focus

After the rebrand, MetaMask will double down on building out its wallet ecosystem and related services for retail users. Going independent is meant to give product priorities more room to breathe and speed up consumer-focused development.

Institutional and protocol division

The institutional and protocol side of the business will spin off into its own separately managed company. The announcement didn’t share any details on the new structure or branding for this unit.