MetaMask by ConsenSys: status and timeline

MetaMask

Turn a crypto wallet into a full money app where people keep control of their own funds, with spending, saving and investing built in rather than handed to a bank or exchange.

ScalingStage 5 of 5

100M+ downloads; Money Account live since June 2026; becoming its own company by end of 2026.

Updated 30 Jun 2026Checked 11 Oct0 updates this week

Milestones

Next · Separation into a standalone MetaMask company

MetaMask Card pilot with Mastercard and Baanx (EU and UK)14 Aug 2024Complete.
mUSD stablecoin launched on Ethereum and Linea15 Sep 2025Complete.
MetaMask Card generally available across the US26 Feb 2026Complete.
Money Account with up to 4% yield on mUSD30 Jun 2026Complete.
Separation into a standalone MetaMask companyTarget Q4 2026Current milestone.

Most important updates

Upcoming

Q4 2026Separation into a standalone MetaMask company (next)
Q4 2026MetaMask and the new ConsenSys become separate companies

Current obstacles

mUSD has stayed smallmUSD peaked above $100M after launch but sat near $32M in mid-2026, far behind USDC and USDT, which users already hold.
Corporate split and listing uncertaintyThe split from ConsenSys, an IPO pushed back from early 2026 and a long-discussed MetaMask token are all unresolved, which clouds the product roadmap.
Regional limitsThe Money Account launched without the UK, and card and yield features depend on each country's rules.

Physics limits

Lose the key, lose the moneySelf-custody means no one can reset a password. If the secret phrase is lost or stolen, the funds are gone; making recovery easy without a trusted third party is unsolved.
Yield always carries riskReturns come from lending to others via smart contracts. Code bugs, bad collateral or a run can cause losses that no deposit insurance covers.
Card payments need a bridge to banksMerchants are paid in ordinary money, so every card swipe still passes through a licensed issuer and a bank, reintroducing the intermediaries self-custody avoids.

How it works

4 parts

Keys

You hold the keys

The wallet keeps the secret key on the user's device. Only that key can sign transactions, so no company can freeze or move the funds.

mUSD

A wallet-native dollar

mUSD is issued by Stripe's Bridge on M0's platform and backed 1:1 by cash and short-term US Treasuries; the reserve income funds wallet features.

Card

Spend without pre-loading

Funds stay in the wallet until the moment of purchase, then are converted and paid over Mastercard's network; a regulated issuer and bank handle the card side.

Yield

Money Account

Deposits are converted to mUSD and placed in lending vaults on Morpho, run on the Monad blockchain, which pay a variable return.

Spec sheet

Spec	MetaMask
Downloads	100M+^R (reported)
mUSD market cap (June 2026)	About $32M^R (reported)
Money Account yield	Up to 4% variable^R (reported)
Card acceptance	150M Mastercard merchants^R (reported)

^R reported by the company

Update log

3 updates

About ConsenSys

The team behind MetaMask

ConsenSys

MetaMask, Infura, Ethereum developer tools, Web3 infrastructure

Ethereum infrastructure company founded 2015. Built MetaMask and Infura. Sept 2026 split into MetaMask (consumer) and ConsenSys (institutional, centered on Linea Layer 2).

Created MetaMask (100M+ users) and Infura (millions daily API calls); backbone of Ethereum.
March 2022 raised $450M at $7B valuation in Series D. Sept 2026 split into MetaMask and ConsenSys.
ConsenSys now focused on institutional protocols with Linea zkEVM at center; preparing IPO for fall 2026.

consensys.io (opens consensys.io)Company profile →

Founded: 201511 yrs
Headquarters: United States
Status: Private
Valuation: private
Raised: $450M1 round
Last round: Series D · $450MMar 2022
Works in: CryptoRollups & ZK proofs
Coverage: 2 programs · 6 updateslatest 9 Sep 2026checked 10 Oct
Partners: Ethereum Foundation (opens ethereum.org)
People: Joseph Lubin (opens en.wikipedia.org)Founder

Spec

MetaMask

Downloads

100M+^R (reported)

mUSD market cap (June 2026)

About $32M^R (reported)

Money Account yield

Up to 4% variable^R (reported)

Card acceptance

150M Mastercard merchants^R (reported)

MetaMask

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

You hold the keys

A wallet-native dollar

Spend without pre-loading

Money Account

Spec sheet

Update log

Tue 30 Jun

Thu 26 Feb

Thu 21 Aug 2025

About ConsenSys

Current obstacles

Physics limits

How it works

You hold the keys

A wallet-native dollar

Spend without pre-loading

Money Account

Spec sheet

Update log

Tue 30 Jun

Thu 26 Feb

Thu 21 Aug 2025

About ConsenSys