The financial world is evolving with the introduction of Converge by Ethena Labs and Securitize. This blockchain promises to merge traditional finance and DeFi, offering new opportunities for both institutional and retail investors.
What is Converge and How Does It Work
Converge is built on the Ethereum Virtual Machine (EVM), providing a framework for both permissioned and permissionless financial applications. The mainnet launch is scheduled for the second quarter. Key players in this project include Ethena Labs and Securitize, who plan to release technical documents and a developer testnet soon.
Institutional Investments and Tokenized Assets
Converge focuses on institutional applications, particularly in asset tokenization, which Securitize actively promotes. The platform has already issued over $2 billion in blockchain assets. This broadens the range of financial instruments within Converge, integrated with Ethena's stablecoins: USDe, USDtb, and iUSDe.
Key Features of the Converge Blockchain
Converge operates across three main tiers: permissionless DeFi ecosystem, permissioned applications, and new financial product creation. These tiers allow market participants to engage with both retail and institutional offerings while adhering to regulatory requirements. Key partners ensuring security include custodians such as Anchorage and Copper.
Ethena Labs and Securitize with Converge aim to merge the best aspects of the traditional financial system and decentralized economy, offering hybrid financial solutions for investors worldwide.
