Ethena Labs and Securitize announced Converge, a new blockchain that aims to connect traditional finance with DeFi.
Overview of Converge
Converge is a blockchain based on the Ethereum Virtual Machine, facilitating both permissioned and permissionless financial applications. Its main goal is to provide retail investors with access to DeFi applications while offering institutional investors a robust, compliant infrastructure. Ethena Labs and Securitize are leading the initiative.
Tokenized Assets and Institutional Capital
Converge focuses on institutional-grade applications, particularly with tokenized assets. Securitize has already issued over $2 billion in on-chain assets. Converge will serve as the primary issuance layer for Securitize’s tokenized assets, providing a foundation for a wide range of financial instruments integrated with Ethena’s stablecoins.
Key Features of the Converge Blockchain
Converge operates with three main application tiers: a permissionless DeFi ecosystem, permissioned applications, and new financial products, allowing the platform to bridge DeFi and traditional finance, offering innovative products like fixed-income and credit swaps.
Converge creates a new environment for major financial institutions to interact with DeFi, blending traditional and decentralized economies.
