Converge Blockchain Launches to bridge DeFi and Traditional finance
Ethena Labs and Securitize have unveiled Converge, a new blockchain platform. It aims to bring decentralized finance (defi) and tokenized assets to both retail and institutional investors.
Converge is built on Ethereum’s Virtual Machine. This means existing Ethereum-based apps and smart contracts can work on it without changes. Ethena plans to move its DeFi ecosystem, worth nearly $6 billion, to Converge.
Securitize will use converge to issue and manage digital securities. Tokenized assets are digital versions of financial tools like stocks and bonds. Converge lets institutions use these assets on the blockchain while following rules. Companies like Anchorage and Fireblocks will keep these assets safe.
The network will include DeFi apps from partners like Pendle and Aave Labs. It will also work with LayerZero and Wormhole for easy asset transfers.Oracle providers such as RedStone and Pyth will give real-time price data.
ethena’s ENA token will help secure the network. USDe and USDtb stablecoins will be used for fees. Converge aims to solve regulatory issues that have stopped institutions from fully using DeFi. It combines DeFi’s speed with compliance-focused tech.
