Ethena Labs and Securitize have introduced Converge, a blockchain designed to facilitate decentralized finance (DeFi) and tokenized assets. This network will serve both retail and institutional investors by offering standard DeFi applications and financial products that meet institutional standards. Converge is constructed on Ethereum’s Virtual Machine, enabling existing Ethereum (ETH)-based applications and smart contracts to operate without needing modifications. Ethena (ENA) plans to migrate its DeFi ecosystem, which currently holds nearly $6 billion in assets, onto the Converge platform. Securitize, known for tokenizing real-world assets, will leverage this blockchain to issue and manage digital securities. Tokenized assets represent financial instruments such as stocks, bonds, and real estate in a digital format. With Converge, institutions will be able to engage with these assets on-chain while ensuring regulatory compliance. Institutional-grade custodians, including Anchorage, Copper, and Fireblocks, will ensure the safekeeping of these assets. DeFi Applications The network will incorporate DeFi applications from partners such as Pendle, Aave Labs, and Maple Finance. It will also enable interoperability through LayerZero and Wormhole, allowing for smooth asset transfers across different blockchains.

Oracle providers like RedStone and Pyth will offer real-time price data. Ethena’s ENA token will be essential for securing the network, while stablecoins such as USDe (USDe) and USDtb will cover transaction fees. The blockchain will feature both open DeFi applications and access-controlled offerings for institutional clients. Ethena and Securitize view Converge as a means to overcome regulatory challenges that have hindered institutional participation in DeFi. By merging the efficiency of DeFi with a compliance-oriented infrastructure, the network aims to create a connection between traditional finance and blockchain-driven markets.