The launch of Converge, a blockchain particularly designed to assist and develop institutional initiatives in decentralized finance (DeFi) and tokenized real-world property (RWA), was introduced.
Ethena Labs and Securitize revealed plans for Converge, an EVM-compatible blockchain optimized for DeFi and RWA initiatives. The community goals to offer institutional traders with entry to progressive monetary devices whereas guaranteeing regulatory compliance. The launch is scheduled for Q2 2025.
Converge will cater to each institutional traders and retail customers. The platform will function customary DeFi apps alongside specialised merchandise developed in collaboration with trade leaders. Among the many first companions of Converge are Pendle, Aave Labs (Horizon), Ethereal, Morpho, and Maple Finance.
The Converge community might be appropriate with main infrastructure options. Institutional custodial storage might be offered by Anchorage, Copper, Fireblocks, Komainu, and Zodia. Interoperability might be ensured via LayerZero, Wormhole, and oracle companies from RedStone and Pyth.
A governance token of the Converge ecosystem might be Ethena (ENA), which will be staked through sENA. Transaction charges on the community might be paid utilizing the USDe and USDtb stablecoins, developed in collaboration between Ethena and Securitize.
Ethena Labs will migrate its present DeFi ecosystem, at the moment managing property value roughly $6 billion, to Converge. Securitize plans to subject tokenized property on the community, increasing its RWA portfolio, which at the moment stands at round $2 billion.
Man Younger, Founding father of Ethena Labs, emphasised that Converge goals to fill a big market hole by changing into the first settlement layer for institutional DeFi and RWA initiatives. Carlos Domingo, Co-Founder and CEO of Securitize, highlighted that Converge is being developed to handle a crucial subject — the shortage of regulated institutional infrastructure for DeFi operations.
Ripple Labs not too long ago introduced plans to reinforce DeFi infrastructure for institutional customers on the XRP Ledger blockchain, together with new liquidity mechanisms, digital id options, and lending protocols.
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