The blockchain software company Consensys, which owns the MetaMask crypto wallet, has reportedly been preparing for an initial public offering (IPO).
The firm has engaged major banking institutions JPMorgan and Goldman Sachs to lead the offering. This move comes amid a growing wave of crypto-native companies opting to go public, driven by improving regulatory clarity in the US.
If the listing proceeds, Consensys would join peers such as Circle and Bullish in entering US public markets and become one of the largest crypto-infrastructure listings to date.
According to reports, the IPO could take place as early as 2026.
Key financial and regulatory indicators
Consensys was last valued at approximately USD 7 billion in 2022 during a funding round. In the same year, the company raised USD 450 million and had previously secured substantial funding to support its Web3 infrastructure ambitions.
In 2025, the company reportedly restructured in preparation for the public listing and targeted raising ‘several hundred million dollars’ to support its growth and compliance efforts.
On the regulatory front, the US Securities and Exchange Commission (SEC) withdrew its complaint against Consensys related to MetaMask’s staking services, a development that cleared a significant hurdle ahead of the IPO.
Ecosystem position and strategic initiatives
Consensys operates several major assets in the Ethereum ecosystem, including the MetaMask wallet, the Infura node-infrastructure service, and the Linea Layer 2 network. MetaMask has recently announced plans for a native token and introduced a rewards programme to incentivise on-chain activity.
The firm additionally supports the treasury-management firm SharpLink, which recently committed around USD 200 million into on-chain yield strategies on the Linea network.
By collaborating with Wall Street’s largest banks, Consensys aims to position itself as a bridge between DeFi and traditional capital markets. An IPO would not only provide liquidity for early investors and employees but also improve transparency and credibility in a sector often criticised for opacity.
The company’s expansion strategy includes ongoing partnerships with enterprises and governments exploring blockchain adoption. Consensys has been involved in developing digital-currency pilots for several central banks and in deploying blockchain-based identity and compliance solutions. These initiatives align with the global trend of tokenization and the push for blockchain interoperability across public and private sectors.
