Ethena Labs has introduced a new blockchain named Converge, designed for institutional DeFi products, supporting the integration of traditional finance with digital assets.
Launch of Converge Blockchain
Ethena Labs, the firm behind the Ethena protocol and USDe stablecoin, announced the launch of the new Converge blockchain. This EVM-compatible blockchain is aimed at institutional DeFi products.
Partnership with Securitize
Converge was launched in partnership with the tokenization company Securitize, which previously launched the BUIDL fund for BlackRock. The collaboration with Ethena Labs will enable Converge to serve as a settlement layer for institutional finance.
Support and Prospects for Converge
Ethena Labs has stated that their new blockchain has already been supported by five major DeFi protocols, including Horizon by Aave Labs, Pendle Finance, Morpho Labs, Maple Finance, and Ethereal DEX.
Ethena Labs and Securitize are confident that their joint platform, Converge, will become a key tool in the development of institutional DeFi products, aimed at integrating traditional financial markets with the world of digital assets.
