Ethena and Securitize to Launch Mainnet for Real-World Asset Blockchain by Q2
The Converge blockchain develops fast blocktimes and gas payments through Ethena's tokens, aiming to bridge traditional finance with DeFi.
Ethena and Securitize to Launch Mainnet for Real-World Asset Blockchain by Q2
The Converge blockchain develops fast blocktimes and gas payments through Ethena’s tokens, aiming to bridge traditional finance with DeFi.
Key Highlights:
- Ethena and Securitize are utilizing Arbitrum’s technology alongside Celestia to create the Converge blockchain focused on real-world assets (RWAs).
- Securitize’s CEO, Carlos Domingo, affirmed in an interview that the mainnet is intended to be launched by the conclusion of the second quarter.
- This network will accommodate both permissioned and permissionless applications, merging traditional finance with crypto solutions on a single chain.
In their announcement, the two firms detailed that the Converge chain is set to facilitate low latency transaction processing, allowing users to cover gas fees with tokens USDe and USDtb. This mechanism is buttressed by the establishment of a Validator Network for enhanced security measures.
“The concept is to initiate a testnet shortly as we’ve been diligently working on the project,” said Carlos Domingo. “After that, the aim is to roll out the mainnet before Q2 concludes.”
The progress of this public launch also hinges on the integration with third-party services such as Anchorage for custody and Fireblocks for key management, Domingo further explained.
The Converge project intends to establish a conduit for tokenized real-world assets, linking these with the decentralized finance (DeFi) landscape, building on Ethena and Securitize’s existing assets worth multiple billions.
This initiative signifies a notable effort to connect the fast-expanding tokenization of assets with DeFi capabilities, ensuring that users benefit from both high performance and reinforced security.
