MetaMask Gets Left Behind? Consensys Launches New Institutional Settlement Network

Consensys unveiled Sovereign Network Interoperability at Devcon, announcing on November 2, 2026, an institutional settlement system for banks, asset managers and financial market infrastructure providers. The bridgeless platform is designed to settle securities, exchange currencies and move collateral across independently operated ledgers while keeping assets on their original networks and using cryptographic verification to reduce reliance on trusted intermediaries. It targets securities settlement, wholesale payments, collateral mobility and tokenized fund transactions, with planned support for Ethereum-compatible networks, Ethereum Economic Zone, Inter-Blockchain Communication and Canton. The launch comes as Consensys prepares to separate consumer and enterprise operations by end-2026, rebranding Consensys Software as MetaMask under Joe Lubin while moving protocols and institutional infrastructure into a company retaining the Consensys name.