Ethena Labs and Securitize have introduced a new blockchain, Converge, which promises to bridge traditional and decentralized finance. The project aims to attract institutional investors and create universal applications for retail users.
What is Converge and How Will It Work
Converge is a blockchain built on the EVM, allowing for both permissioned and permissionless financial applications. It is scheduled for a Q2 mainnet launch, offering unique features for a wide range of financial products.
Institutional Capital and Tokenized Assets
Converge focuses on institutional-grade applications and asset tokenization. Securitize, a leader in tokenized asset issuance, has issued over $2 billion in assets on-chain. The project will enable a broad range of financial instruments through integration with Ethena's stablecoins.
Key Features of the Converge Blockchain
Converge offers three main application tiers: Permissionless DeFi Ecosystem, Permissioned Applications, and New Financial Products. This structure allows the blockchain to serve as a bridge between DeFi and traditional finance, while also creating innovative products using tokenized securities.
Converge aims to integrate traditional financial institutions with DeFi, providing new opportunities and tools for both institutional and retail investors.
