Corrinoids are cobalt‐containing tetrapyrroles. They include adenosylcobalamin (vitamin B12) and cobamides that function as cofactors and coenzymes for methyl transfer, radical‐dependent and redox reactions. Though cobamides are the most complex cofactors in nature, they are essential in the acetyl‐CoA pathway, thought to be the most ancient CO2‐fixation pathway, where they perform a pterin‐to‐cobalt‐to‐nickel methyl transfer reaction catalyzed by the corrinoid iron–sulphur protein (CoFeS). CoFeS occurs in H2‐dependent archaeal methanogens, the oldest microbial lineage by measure of physiology and carbon isotope data, dating corrinoids to ca. 3.5 billion years. However, CoFeS and cobamides are also essential in the acetyl‐CoA pathway of H2‐dependent bacterial acetogens. To determine whether corrin biosynthesis was established before archaea and bacteria diverged, whether the pathways arose independently or whether cobamide biosynthesis was transferred from the archaeal to the bacterial lineage (or vice versa) during evolution, we investigated phylogenies and structural data for 26 enzymes of corrin ring and lower ligand biosynthesis. The data trace cobamide synthesis to the common ancestor of bacteria and archaea, placing it in the last universal common ancestor of all lifeforms (LUCA), while pterin‐dependent methyl synthesis pathways likely arose independently post‐LUCA in the lineages leading to bacteria and archaea. Enzymes of corrin biosynthesis were recruited from preexisting ancient pathways. Evolutionary forerunners of CoFeS function were likely Fe‐, Ni‐ and Co‐containing solid‐state surfaces, which, in the laboratory, catalyze the reactions of the acetyl‐CoA pathway from CO2 to pyruvate under serpentinizing hydrothermal conditions. The data suggest that enzymatic corrin biosynthesis replaced insoluble solid‐state catalysts that tethered primordial CO2 assimilation to the Earth's crust, suggesting a role for corrin synthesis in the origin of free‐living cells.