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Ethena Labs and tokenization firm Securitize have teamed up to launch Converge, a new Ethereum-compatible blockchain. This network is designed to blend the worlds of traditional finance (TradFi) and decentralized finance (DeFi).
The goal? Make institutional assets more usable on-chain. That includes bringing $8 billion worth of real-world tokenized assets (RWAs) into the crypto world.
Converge will be an EVM (Ethereum Virtual Machine) blockchain, meaning it supports Ethereum-based smart contracts. It’s being developed using the Arbitrum Orbit stack, which helps create custom blockchains with lower fees and better speed.
Securitize will handle on-chain identity verification and compliance tools. Ethena, known for its yield-bearing stablecoin USDe, will play a central role in liquidity.
With institutional-grade tools and deep liquidity from DeFi protocols like Ethena, Converge aims to unlock new financial use cases. These include on-chain credit markets, tokenized equity trading, and secure stablecoin settlements.
The network is expected to launch in Q2 2025. Initial asset migrations and product demos are already underway with institutional partners.
A big part of Converge’s appeal is compliance. Every transaction is designed to meet regulatory standards. That could make it easier for big firms to explore blockchain without breaking the rules.
This hybrid model gives TradFi access to DeFi’s speed and efficiency—without sacrificing security or regulation.
