Ethena and Securitize to Launch Converge Blockchain in 2025
Key Points:Ethena Labs and Securitize jointly creating Converge blockchain for institutional DeFi. Converge aims to merge traditional finance with the benefits of DeFi. Converge will accommodate existing and future tokenized assets. Ethena and Securitize to Launch Converge Blockchain in 2025Ethena Labs and Securitize are set to launch Converge, an EVM blockchain integrating traditional finance with decentralized finance, in 2025. Converge plans to enhance institutional finance adaptability to DeFi, providing a new settlement layer for digital assets. Ethena and Securitize’s $8 Billion Migration Initiative Ethena Labs and Securitize are at the helm of the Converge blockchain project aimed at facilitating the integration of traditional and decentralized finance. It intends to merge innovative DeFi applications with institutional finance systems. Converge is to be launched in the second quarter of 2025. The blockchain will facilitate safe institutional access to DeFi. Ethena Labs will focus on migrating its $6 billion DeFi operations, while Securitize seeks to extend its $2 billion tokenized asset issuance via multiple blockchains to Converge. Guy Young and Carlos Domingo, leaders from Ethena Labs and Securitize, emphasized Converge’s role in bridging finance sectors, centralizing on USDe & USDtb, fortified by ENA as described on their official Twitter accounts. “We’re building Converge to become the go-to settlement layer for institutional-grade DeFi and tokenized assets. Our vision is to provide the first purpose-built settlement layer where TradFi will merge with DeFi, centered on USDe & USDtb and secured by ENA.” — Guy Young, Founder, Ethena Labs Expert Perspectives on Converge as a DeFi Gateway Did you know? No previous blockchain initiatives have directly targeted merging institutional-grade DeFi with tokenized assets, as Converge sets to achieve. Carlos Domingo stated on Twitter the significance of Converge for institutional adoption, highlighting the need for a purpose-built blockchain. There are currently no specified price fluctuations or charts available for USDe or USDtb. Experts, including Stani Kulechov from Aave, view Converge as a step towards bridging financial systems, indicating it as a primary settlement layer. The GitHub activity shows active development, suggesting technological advancements are in progress for Converge blockchain’s successful implementation.