Stablecoin developer Ethena Labs and real-world asset (RWA) tokenization company Securitize are launching a new blockchain for retail and institutional investors seeking access to the DeFi and tokenization economies.
According to a March 17 announcement, the forthcoming Converge blockchain is an Ethereum Virtual Machine that will provide retail investors with access to “standard DeFi applications.” It will also specialize in institutional-grade offerings that will help bridge traditional finance with DeFi opportunities.
The Converge blockchain is announced at the Tokenize NYC conference on March 17. Source: Cointelegraph
Converge will launch with various product offerings, including Ethereal, Morpho, Maple Labs, Pendle and Aave Labs’ Horizon.
Converge’s RWA infrastructure will benefit from Securitize’s growing presence in the tokenization market, with nearly $2 billion minted across various blockchains. The company recently announced that BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has surpassed $1 billion in net assets one