Consensys, the Ethereum software company behind MetaMask wallet, has hired JP Morgan and Goldman Sachs as advisors for an initial public offering, according to Axios on Wednesday, positioning the firm among a growing group of crypto companies preparing listings.
The move follows successful public debuts by Circle and Bullish earlier this year, with companies capitalizing on stronger market sentiment and a more favorable regulatory environment under the Trump administration. Circle's stablecoin issuer listing drew strong institutional demand, establishing a template for crypto infrastructure IPOs.
Founded in 2014 by Joseph Lubin, an Ethereum co-creator, Consensys operates MetaMask, one of the world's most widely used cryptocurrency wallets serving as a gateway to decentralized finance applications and token trading. The company has expanded beyond wallet services to include Infura, a node infrastructure service for developers, and Linea, an Ethereum Layer 2 scaling network.
The IPO preparations come as Consensys pursues product expansion including the long-anticipated MASK token launch. Lubin announced plans last month to release the token alongside a new rewards system and perpetual futures trading capabilities, broadening MetaMask's functionality beyond simple wallet operations.
The listing timeline and venue remain undisclosed.
MetaMask also recently confirmed integration with Polymarket for prediction markets, reflecting the wallet's evolution toward a comprehensive platform for Ethereum-based financial services. The additions aim to deepen user engagement and create additional revenue streams beyond transaction fees.
"These launches follow MetaMask's recent confirmation that it will launch a token, long anticipated by the community and now officially in motion, as part of its broader strategy to open new ways for users to engage," the company said.
Consensys represents one of the largest private players in Ethereum infrastructure, though the company has not disclosed recent valuation or financial metrics. The firm raised $450 million in Series D funding in March 2022 at a $7 billion valuation, though crypto market conditions have changed substantially since that round. Consensys also backs SharpLink, an Ethereum treasury platform, expanding its footprint beyond core infrastructure into financial services.
The IPO would mark one of the most significant listings for an Ethereum-native company, potentially validating the blockchain's infrastructure layer for public market investors. Previous crypto IPOs have focused primarily on exchanges, stablecoin issuers, or mining companies rather than smart contract platform infrastructure.
