- Ethena Labs and Securitize are joining forces to launch converge, a new blockchain for decentralized finances and tokenized assets.
- Converge Ethereum will be virtual machine-compatible and operate both retail and institutional Defi.
- ENA price rose by 5% to change ownership above $ 0.38 after the announcement
Ethena Labs and Securitize work together with a company that will see the crypto projects reveal, a new blockchain built for Tokenized assets and decentralized finances.
Announced On March 17, Converge will be a tailor-made, Ethereum-compatible blockchain. The developers propose a platform that both everyday investors and institutional players will provide deep bags.
Per a blog post in which the new blockchain is introduced is the expected launch date Q2 2025.
Ethena, securitize unveiling converge
According to Ethena Labs, Converge is a blockchain platform designed to bridge the gap between traditional finances and Defi.
The technology behind the EVM-compatible chain will enable users to use user-friendly decentralized applications for retail investors. Converge also offers a series of top aids that are aimed at institutional investors.
Both Ethena Labs and Securitize Plan to tap the new blockchain to promote the ecosystem of Defi and Asset Tokenization. In this case, the Ethena partnership will bring its budding Defi to come together.
Securitize will also renew its traction in the Real-World Asset (RWA) Token risition space. With almost $ 2 billion beaten, Securitize stands out as one of the best platforms that defend the growth of Tokenized Activa.
The unveiling of Converge will bring an EVM-compatible settlement layer, so that new adoption for stablecoins and Tokenized assets controls.
“We are developing the Converge to fill a clear gap in the market as the go-to-settlement layer for Defi and Tokenized assets of institutional quality,” said Guy Young, founder of Ethena Labs, in a statement.
According to Young, “storage and settlement of stablecoins and tokenized assets” will become a huge opportunity in the coming years.
Stablecoins, block chains and fairs are a “holy three -unity of crypto -protocols” the founder of Ethena Labs posted On X.
Further comments came from Carlos Domingo, the co-founder and CEO of Securitize. He noticed:
“By combining the innovation of Ethena in Defi with the leadership of Securitize in tokyizing Real-World Assets, Converge proposes a new standard for how institutions can deal with confidence with financial markets on the chain.”
Converge’s first launch partners
The two companies will want to move forward through important collaborations in the industry. The cause help are initial launch partners, including Pendle, Aave Labs (via his Horizon Project), Morpho, Ethereal and Maple Finance.
The RWA traction of Converge will also benefit from the support of the custody of Anchorage, Koper, Fireblocks and Zodia, including preservators of institutional quality.
The key will also be interoperability partners Layerzero and Wormhole. In the meantime, Converge will use Oracle support from Pyth Network and Redstone.
In addition, Converge Ethena’s Native Governance Token anda will use for expansion and safety. The latter will use a permitted validator set. The USDE and USTB -Stablecoins will provide network transactions such as Gastokens.
In the news it jumped more than 5% to trade above $ 0.38.
