Consensys Software Inc. said it is reorganizing into two independently operating companies, separating MetaMask’s consumer business from its protocol and institutional infrastructure operations. The original company will be renamed MetaMask and will focus on products for retail users, while a newly formed company retaining the Consensys name will house businesses such as Linea, Besu and Teku. The split was announced on Sept. 9, 2026, and the separation process is expected to be completed before the end of 2026. Joe Lubin will serve as chairman and CEO of MetaMask, while Mike Kriak will become CEO of the new Consensys and David Cunningham its president. The move comes as MetaMask expands far beyond its original wallet role, adding mUSD, MetaMask Card, perpetuals, prediction markets, tokenized equities and its Monad-based Money Account. The company says existing users will not need to migrate wallets, reimport seed phrases or move tokens, and developer tools including its SDK and APIs will continue to operate.

Crypto wallet company Exodus reported second-quarter revenue of $26.2 million, up 2% from a year earlier, but swung to a net loss of $18.6 million after posting a $37.7 million profit in the same period last year. The company’s general and administrative expenses rose 138% year over year to $44.7 million. Exodus said its quarterly results included partial contributions from the acquisitions of Monavate and Baanx. User and trading metrics also weakened during the period, with month-end monthly active users falling to 1.4 million, down 6.7% from the previous quarter, while quarterly Swap volume came in at $1.1 billion, down 8.3% quarter over quarter. The figures were cited by AP News and relayed by BlockBeats on Aug. 11.

John Timoney of Rain says retail stablecoin card spend grew about 105%-106% in the past year. Latin America could soon see double-digit penetration. Mastercard bought BVNK for up to $1.8B and explores on-chain settlement.

MetaMask and Mastercard have launched the MetaMask Card in 49 U.S. states, letting users spend directly from self-custodied wallets and earn mUSD rewards on purchases.

MetaMask and Mastercard roll out a nationwide self-custodial crypto card in the U.S., allowing users to keep assets in their wallet until payment, with up to 3% cashback in mUSD stablecoin.

Competition in crypto digital banking is moving beyond stablecoin cards. Custodial platforms lead on user experience, but long-term economics appear tied to lending books, banking licenses, on-chain credit models, and control of core infrastructure.

Ledger has launched the Visa-backed CL Card, allowing users to spend Bitcoin while retaining self-custody. The card offers 1% BTC cashback and salary conversion into Bitcoin.

Exodus sold 1,076 BTC in the first quarter of 2026, raising $73.2 million to support its acquisitions of Monavate and Baanx as it shifts from crypto exchange-related revenue toward global payments infrastructure.