Ethena Labs and Securitize have joined forces to unveil Converge, a next-generation blockchain aimed at bridging traditional finance and DeFi.
What is Converge and How It Works
Converge is a blockchain built on the Ethereum Virtual Machine (EVM) that facilitates both permissioned and permissionless financial applications. This approach allows Converge to serve as a bridge between traditional financial institutions and the rapidly evolving world of decentralized finance. The mainnet launch is scheduled for the second quarter.
Institutional Capital and Tokenized Assets
Converge focuses on providing institutional-grade applications, particularly those that handle tokenized assets. Securitize has already issued over $2 billion in on-chain assets, including offerings from companies like BlackRock, Apollo, and KKR.
Key Features of the Converge Blockchain
Converge offers three application tiers: a permissionless DeFi ecosystem, permissioned applications, and the creation of new financial products. The platform sits at the intersection of DeFi and traditional finance, enabling innovation.
Ethena Labs and Securitize aim to create a space where traditional finance and the decentralized economy can interact, providing opportunities for investors of all types.
