Ethena and Securitize to Launch Converge for DeFi Innovation
Story Highlights
- Ethena and Securitize to launch Converge for DeFi innovation
- Converge to provide retail users access to standard DeFi applications
- Ethena Labs plans $6 billion asset migration to Converge
Ethena Labs and Securitize have announced the upcoming launch of Converge, a blockchain designed to enhance decentralized finance (DeFi) and tokenized assets. Converge functions as an Ethereum Virtual Machine (EVM)-compatible system that delivers optimized solutions for retail customers and institutions.
Retail users accessing Converge will gain entry to standard DeFi applications so they can participate in different financial services. Institutional investors will benefit from the blockchain through jointly developed applications and products with partners that grant authorized access to DeFi solutions while improving capital utilization.
Ethena Labs will move its $6 billion worth of assets from its present DeFi ecosystem into Converge for migration. The migration intends to boost their service efficiency and safety measures. The platform enables Securitize to tokenize current and upcoming real-world assets through its capabilities which improve interoperability and compliance features.
Ethena and Securitize to Launch Converge in Q2 2025
Converge attracted support from major organizations like Pendle and Avara which joined with Ethereal and Morpho and Maple Finance for application and product deployment on the platform. Users will gain access to various financial services through the expected network enrichment made possible by these collaborative efforts.
Converge achieves interoperability power through its integration with LayerZero and Wormhole along with other key platform features. The platform’s functionality increases because these integrations create easy asset movement possibilities between various blockchain networks.
The Ethena platform will secure its Converge network through the governance token ENA as its native implement. Network stakeholders can strengthen network security through ENA staking activities (sENA) even though maintenance tasks are handled by a restricted group of validators which includes traditional financial entities and centralized exchanges.
The stablecoin products USDe and USDtb created through collaboration between Ethena and Securitize functions as network gas tokens. The platform integration functions to optimize its transaction operations and elevate user experience across the system.
Ethena Labs together with Securitize, intend to launch Converge during the second quarter of 2025.This combined experience of their organizations will establish both innovation and compliance in their DeFi ecosystem.