Ethena Labs and Securitize are collaborating to introduce Converge, a new blockchain designed to serve as a settlement layer for institutional decentralized finance (DeFi) and tokenized assets.
The blockchain, set for a Q2 2025 launch, is aimed at facilitating seamless integration between traditional finance and DeFi, offering institutions a robust infrastructure to engage in on-chain financial activities.
Converge will feature Ethena’s USDe and Buidl’s USDtb stablecoins, enhancing settlement mechanisms for tokenized assets. The blockchain’s interoperability with the Ethereum Virtual Machine (EVM) will allow for the seamless execution of decentralized applications (DApps) and smart contracts without modifications. Ethena plans to migrate its $6 billion DeFi ecosystem onto Converge, while Securitize will issue tokenized assets natively on the platform.
Several projects, including Horizon by Aave, Ethereal, MorphoLabns, Pendle, and Maple Finance, have pledged support for Converge. Additionally, custodial solutions will be provided by leading firms such as Anchorage, Komainu, Zodia, Fireblocks, and Copper. The blockchain’s interoperability will be powered by Wormhole and LayerZero, enabling cross-chain functionality.
Institutional interest in DeFi has surged in recent months, yet regulatory uncertainty has been a major barrier. Securitize CEO Carlos Domingo emphasized that Converge is designed to address these concerns, providing a compliant and purpose-built blockchain to bridge the gap between traditional finance and DeFi. The platform aims to unlock new opportunities for institutional capital, supporting the ongoing evolution of the financial ecosystem.
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