Securitize and Ethena Launch Institutional DeFi Blockchain Called Converge
Securitize and Ethena introduce Converge, an Ethereum-compatible blockchain aimed at integrating decentralized finance with tokenized real-world assets.
Securitize and Ethena Launch Institutional DeFi Blockchain Called Converge
The Converge blockchain is designed to integrate DeFi innovations with tokenized real-world assets and is compatible with Ethereum.
Key Information:
- Converge will run on the Ethereum Virtual Machine (EVM), supporting Ethereum’s smart contracts and dApps without changes.
- Partners for Converge include Pendle, Avara, Ethereal, Morpho, and Maple Finance.
- Ethena’s governance token, ENA, will be used for network security with support from traditional finance entities.
Securitize and Ethena Labs, closely involved with BlackRock’s BUIDL token, have created an Ethereum-compatible blockchain named Converge to accommodate tokenized assets and assist institutional investors in accessing decentralized finance (DeFi).
Ethena will move its $6 billion DeFi ecosystem to this platform, while Securitize will integrate real-world assets (RWAs), like the recently launched Apollo credit fund token.
In an interview, Carlos Domingo, Securitize’s CEO, emphasized how integrating DeFi innovations into RWAs could trigger significant growth in the sector. Guy Young, Ethena’s founder, mentioned new opportunities for trading and collateral usage in tailored money markets through Converge.
The Converge blockchain will not only match industry-leading performance but will employ a KYC framework that surpasses mere wallet whitelisting, ensuring the security and compliance of the assets used within its protocols.
For further updates, stay tuned.
