Ethena Labs and Securitize Announce 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.

Ethena Labs and Securitize are developing Converge, a blockchain designed to optimize decentralized finance (DeFi) and tokenized assets for both retail and institutional customers.

The Ethereum Virtual Machine (EVM)-compatible blockchain is being built to provide optimized solutions for both retail and institutional customers, combining the strengths of both organizations to establish an ecosystem that prioritizes both innovation and compliance in the DeFi space.

The retail customers will have access to standard DeFi applications on Converge, enabling them to participate in different financial services. Meanwhile, institutional investors will benefit from jointly developed applications and products with partners that grant authorized access to DeFi solutions and improve capital utilization.

Ethena Labs will migrate its $6 billion worth of assets from its present DeFi ecosystem into Converge. The migration aims to enhance their service efficiency and safety measures.

The platform will also enable Securitize to tokenize current and upcoming real-world assets through its capabilities that enhance interoperability and compliance features.

Ethena and Securitize to Launch Converge in Q2 2025

Converge has secured support from major organizations like Pendle and Avara, which join forces with Ethereal and Morpho and Maple Finance for application and product deployment on the platform. These collaborative efforts will provide users with access to a diverse range of financial services through the anticipated network enrichment.

The platform's interoperability capabilities are powered by its integration with LayerZero and Wormhole, among other key platform features. These integrations facilitate seamless asset transfer possibilities between different blockchain networks, further enhancing the platform's functionality.

The Ethena platform will safeguard the Converge network through its governance token, ENA, as the native implement. Network stakeholders can further fortify network security through ENA staking activities (sENA).

Despite this, maintenance tasks will be handled by a limited group of validators, which includes traditional financial entities and centralized exchanges, ensuring optimal performance and stability.

The stablecoin products USDe and USDtb, created through the collaboration of Ethena and Securitize, will function as network gas tokens. The platform integration aims to optimize its transaction operations and elevate user experience throughout the system.

Ethena Labs and Securitize plan to launch Converge during the second quarter of 25.