Consensys to split into MetaMask and institutional blockchain company

Restructuring

The restructuring will separate MetaMask's consumer business from Consensys' Ethereum protocols and institutional blockchain infrastructure operations.

Source: MetaMask MetaMask has recorded more than 100 million downloads across roughly 190 countries and facilitated trillions of dollars in transaction volume, according to the company. The company said the restructuring reflects increasingly different priorities for its consumer and institutional businesses.

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Product Expansion

MetaMask, which launched in 2016 as an Ethereum browser extension for accessing decentralized applications and managing crypto assets, has expanded beyond those roots over the past year, adding products spanning payments, yield and tokenized traditional assets.

Source: MetaMask In June, MetaMask launched Money Account, which allows users to earn up to 4% variable APY on eligible mUSD stablecoin balances and spend the funds through MetaMask Card. The yield is generated through DeFi lending strategies rather than interest paid by MetaMask or the stablecoin issuer.

In February, the company added access to 200 tokenized US stocks, exchange-traded funds and commodities through Ondo Global Markets for eligible users outside the United States. Later that month, it rolled out its Mastercard-enabled spending card across 49 US states, expanding a product previously available in markets including Europe, Canada, Mexico, Brazil and Argentina.

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