Ethena Labs and Securitize announced a new blockchain named Converge, designed to bridge traditional and decentralized finance by providing institutional-grade solutions in the DeFi space.
What is Converge and How It Works
Converge is based on the Ethereum Virtual Machine (EVM), providing a dual environment for permissioned and permissionless financial applications. Its mainnet launch is scheduled for the second quarter, with technical documentation and a developer testnet planned.
Institutional Capital and Tokenized Assets
Converge focuses on institutional applications dealing with tokenized assets. The platform will serve as the primary issuance layer for tokenized assets, including market products and stablecoins.
Key Features of the Converge Blockchain
Converge offers three tiers of applications: a permissionless DeFi ecosystem, permissioned applications for traditional financial institutions, and new financial products like credit swaps and equity trading.
Converge promises to significantly expand opportunities for institutional investors in DeFi by merging traditional finance with innovative technology.
