{"id":49270,"date":"2025-03-17T19:45:53","date_gmt":"2025-03-17T19:45:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethena-labs-and-securitize-to-launch-converge-a-new-blockchain-for-defi\/"},"modified":"2025-03-17T19:45:53","modified_gmt":"2025-03-17T19:45:53","slug":"ethena-labs-and-securitize-to-launch-converge-a-new-blockchain-for-defi","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethena-labs-and-securitize-to-launch-converge-a-new-blockchain-for-defi\/","title":{"rendered":"Ethena Labs and Securitize to launch Converge, a new blockchain for DeFi"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1636474130644-56f0accc-fed7-4627-87df-1bb051a8829a-2-scaled-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1636474130644-56f0accc-fed7-4627-87df-1bb051a8829a-2-scaled-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1636474130644-56f0accc-fed7-4627-87df-1bb051a8829a-2-scaled-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1636474130644-56f0accc-fed7-4627-87df-1bb051a8829a-2-scaled-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Ethena Labs and Securitize are joining forces to launch Converge, a new blockchain for decentralized finance and tokenized assets.<\/li>\n<li>Converge will be Ethereum Virtual Machine-compatible and serve both retail and institutional DeFi.<\/li>\n<li>ENA price rose 5% to change hands above $0.38 following the announcement<\/li>\n<\/ul>\n<p>Ethena Labs and Securitize are teaming up on a venture that will see the crypto projects unveil Converge, a new blockchain built for tokenized assets and decentralized finance.<\/p>\n<p><a href=\"https:\/\/mirror.xyz\/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341\/UmVelxhKuuCgad0VLF6u9kqxMmmxBps-EJyjYKNbXKM\" target=\"_blank\" rel=\"noopener\">Announced<\/a> on Mar. 17, Converge will be a custom-built, Ethereum-compatible blockchain. The developers envision a platform that will cater to both everyday investors and deep-pocketed institutional players.<\/p>\n<p>Per a blog post introducing the new blockchain, the anticipated launch date is Q2 2025.<\/p>\n<h2>Ethena, Securitize unveil Converge<\/h2>\n<p>According to Ethena Labs, Converge is a blockchain platform designed to bridge the gap between traditional finance and DeFi.<\/p>\n<p>The technology behind the EVM-compatible chain will allow users to leverage user-friendly decentralized applications for retail investors. Converge will also offer a suite of top tools aimed at institutional investors.<\/p>\n<p>Both Ethena Labs and Securitize plan to tap into the new blockchain to advance the DeFi and asset tokenization ecosystem. In this case, the partnership will see Ethena bring its burgeoning DeFi to Converge.<\/p>\n<p>Securitize will also revamp its traction in the real-world asset (RWA) tokenization space. With nearly $2 billion minted, Securitize stands out as one of the top platforms championing the growth of tokenized assets.<\/p>\n<p>Converge\u2019s unveiling will bring an EVM-compatible settlement layer, driving new adoption for stablecoins and tokenized assets.<\/p>\n<blockquote>\n<p>\u201cWe\u2019re developing Converge to fill a clear gap in the market as the go-to settlement layer for institutional-grade DeFi and tokenized assets,\u201d Guy Young, founder of Ethena Labs, said in a statement.<\/p>\n<\/blockquote>\n<p>According to Young, \u201cstorage and settlement of stablecoins and tokenized assets\u201d is set to be a massive opportunity in the coming years.<\/p>\n<p>Stablecoins, blockchains and exchanges are a \u201choly trinity of crypto protocols\u201d the Ethena Labs founder <a href=\"https:\/\/twitter.com\/leptokurtic_\/status\/1901673101395636655\" target=\"_blank\" rel=\"noopener\">posted<\/a> on X.<\/p>\n<p>Further comments came from Carlos Domingo, the co-founder and CEO of Securitize. He noted:<\/p>\n<blockquote>\n<p>\u201cBy combining Ethena\u2019s innovation in DeFi with Securitize\u2019s leadership in tokenizing real-world assets, Converge sets a new standard for how institutions can confidently engage with on-chain financial markets.\u201d<\/p>\n<\/blockquote>\n<h2>Converge\u2019s initial launch partners<\/h2>\n<p>The two firms will look to advance Converge via key industry collaborations. Helping the cause are initial launch partners, including Pendle, Aave Labs (via its Horizon project), Morpho, Ethereal and Maple Finance.<\/p>\n<p>Converge\u2019s RWA traction will also benefit from custodial support from Anchorage, Copper, Fireblocks and Zodia among other institutional-grade custody providers.<\/p>\n<p>Also key will be interoperability partners LayerZero and Wormhole. Meanwhile, Converge will tap into oracle support from Pyth Network and RedStone.<\/p>\n<p>Furthermore, Converge will use Ethena\u2019s native governance token ENA for staking and security. The latter will tap into a permissioned validator set. The <a href=\"https:\/\/coinjournal.net\/news\/mexc-invests-20-million-in-usde-to-drive-stablecoin-adoption-launches-1000000-reward-event\/\">USDe<\/a> and USTb stablecoins will power network transactions as gas tokens.<\/p>\n<p>The news saw the ENA token jump more than 5% to trade above $0.38.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ethena-labs-and-securitize-to-launch-converge-a-new-blockchain-for-defi\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Ethena Labs and Securitize are joining forces to launch Converge, a new blockchain for decentralized finance and tokenized assets. Converge will be Ethereum Virtual Machine-compatible and serve both retail and institutional DeFi. ENA price rose 5% to change hands above $0.38 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":49271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/49270"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=49270"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/49270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/49271"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=49270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=49270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=49270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}