Consensys to pursue IPO with JPMorgan and Goldman Sachs

Consensys, the blockchain software company behind the MetaMask wallet, is preparing to go public and has tapped JPMorgan and Goldman Sachs to lead the planned initial public offering, people familiar with the matter said. The move, disclosed this week, signals renewed institutional interest in crypto infrastructure firms even as Consensys has not set a public timetable and the company declined to confirm details.

Consensys was founded by Ethereum cofounder Joseph Lubin and builds developer tools and infrastructure for the Ethereum network, including MetaMask, the Infura node service, and the Linea Layer 2 network. MetaMask is the company’s best known product and reportedly has 30 to 35 million monthly active users at cycle peaks. Consensys last raised $450 million in 2022 at a $7 billion valuation.

Company officials have said they are evaluating strategic options but have not announced a filing. A Consensys spokesperson said, "While we continuously evaluate strategic options for growth, we have nothing to announce at this time." People close to the planning said JPMorgan and Goldman Sachs have been engaged to underwrite and advise on the transaction, though timing and size...