Ethena Labs and Securitize have unveiled a new blockchain called Converge, aiming to bridge the gap between traditional and decentralized finance.
What is Converge?
Converge is a blockchain built on the Ethereum Virtual Machine (EVM) designed to support both permissioned and permissionless financial applications. It aims to bridge the worlds of traditional financial institutions and the evolving DeFi space. The mainnet is scheduled for a second-quarter launch, accompanied by technical documentation and a developer testnet.
Institutional Capital and Tokenized Assets
Converge focuses on institutional-grade applications with tokenized assets. Securitize has already issued over $2 billion in on-chain assets. Converge will be the primary platform for Securitize's tokenized assets issuance, integrating stablecoins from Ethena Labs.
Key Features of Converge
Converge offers three application tiers: a permissionless DeFi ecosystem, permissioned applications for integrating traditional finance, and tools for creating new financial products. Integration with leading DeFi protocols and infrastructure providers ensures flexibility and security for institutional investors.
Converge aims to unify traditional and decentralized finance, providing a platform for diverse market participants and opening new possibilities in financial technology.
