Ethena Labs and Securitize have announced the launch of Converge, a new blockchain aimed at bridging traditional finance (TradFi) and decentralized finance (DeFi).
What is Converge and How It Works
Converge is a blockchain built on the Ethereum Virtual Machine (EVM), supporting both permissioned and permissionless financial applications. The planned second-quarter mainnet launch will offer a unique blend of features for a variety of financial products.
Institutional Capital and Tokenized Assets
Converge focuses on supporting institutional-grade applications, particularly those dealing with tokenized assets. It will serve as the primary issuance layer for Securitize's tokenized assets, integrating Ethena's stablecoins.
Key Features of the Converge Blockchain
Converge offers three main application tiers: a permissionless DeFi ecosystem for retail investors, permissioned applications for traditional financial institutions, and new financial products with tokenized securities.
By blending traditional and decentralized financial systems, Converge opens new investment opportunities for various levels of investors. The platform aims to bridge DeFi and TradFi, providing institutional and retail services.
