Consensys Splits Into Two Companies as MetaMask Becomes Independent
(45 days ago) · 1 source · Summarized by CryptoBipto
Consensys, the Ethereum-focused software company founded by Joseph Lubin, is splitting into two separate entities. MetaMask, its widely used cryptocurrency wallet, will become its own independent company, while the remaining Consensys operations will reportedly focus on institutional crypto services.
WHY IT MATTERS
Think of Consensys as a large tech company that built several different products under one roof. One of those products, MetaMask, is a crypto wallet — essentially an app that lets you store, send, and receive cryptocurrency and interact with blockchain-based applications. MetaMask is one of the most widely used tools in crypto, similar to how a web browser is your gateway to the internet. Now, MetaMask is being spun off into its own company, much like how a division of a large corporation might become independent. For people who use MetaMask, this could eventually mean changes in how the wallet is developed and managed, though the immediate practical effects remain to be seen. The split also signals that the company sees different futures for consumer-facing crypto tools and services aimed at large financial institutions.
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