Ethena and Securitize have collaborated to introduce Converge, a blockchain created particularly for tokenized holdings.
Converge seeks to connect the divide between conventional finance and decentralized finance (DeFi) by delivering a platform that serves both individual and institutional stakeholders. It will accommodate standard DeFi apps alongside financial offerings customized to fulfill the strict demands of institutions.
Securitize, recognized for its concentration on real-world asset tokenization, will utilize Converge to distribute and oversee digital securities. Ethena anticipates moving its DeFi ecosystem, which possesses almost $6 billion in holdings, to the new blockchain.
The network will incorporate DeFi apps from collaborators like Pendle, Aave Labs, and Maple Finance. Oracles such as RedStone and Pyth will supply real-time price information, guaranteeing precise and current data for users. Furthermore, Converge will encourage interoperability through LayerZero and Wormhole, assisting smooth asset transfers across diverse blockchains.
Constructed on the Ethereum Virtual Machine (EVM), Converge ensures consistency with existing Ethereum apps and smart contracts, permitting them to operate without alteration.
Tokenized assets, which are digital depictions of financial tools like equities, bonds, and real estate, will be securely handled by institutional-grade custodians such as Anchorage, Copper, and Fireblocks. Converge will empower institutions to engage with these assets on-chain while upholding regulatory adherence.
Ethena’s ENA token will assume a role in securing the network, while the USDe stablecoin and USDtb will be employed to settle transaction costs. The blockchain will showcase both permissionless DeFi apps and permissioned offerings for institutional users.
Ethena and Securitize trust that Converge proposes a resolution to the regulatory obstacles that have impeded institutional involvement in DeFi, clearing the route for greater acceptance and innovation in the area. AgentXYZ and SoonChain Integrate AI to Revolutionize Web3 Gaming
This infrastructure endeavors to connect the divide between established monetary systems and the realm of blockchain technology. It intends to accomplish this by merging the productivity of DeFi (Decentralized Finance) with a controlled and obedient framework, fundamentally uniting the finest aspects of each sphere.
