Ethena and Securitize to Introduce the Converge Blockchain in the Year 2025
Hot Off the Press: Converge, a Game-Changer for Institutional DeFi
Get ready to witness the future of decentralized finance (DeFi) as Ethena Labs and Securitize join forces to unveil Converge – an EVM-compatible blockchain fusing traditional finance (TradFi) and DeFi benefits. Launching in 2025, Converge will revolutionize institutions' access to DeFi, providing a fresh settlement layer for digital assets [1][5].
Say Goodbye to Barriers: Ethena and Securitize's $10 Billion Initiative
Ethena Labs and Securitize lead the charge on Converge, a game-changing project merging DeFi applications with institutional finance systems [1]. The duo plans to migrate Ethena Labs' $6 billion DeFi operations and Securitize's $2 billion tokenized asset issuance to this revolutionary blockchain.
Guy Young, founder of Ethena Labs, and Carlos Domingo, Securitize's leader, are enthusiastic about Converge's role in merging finance sectors. Their focus is on USDe and USDtb, backed by ENA, as revealed on their official Twitter accounts [1].
"We're building Converge to become the go-to settlement layer for institutional-grade DeFi and tokenized assets. Our vision is to provide the first purpose-built settlement layer where TradFi will meet DeFi, centered on USDe & USDtb and secured by ENA." - Guy Young, Founder, Ethena Labs
Expert Views on Converge: A DeFi Gateway for TradFi
Unlike other blockchain initiatives, Converge will be the first to directly integrate institutional-grade DeFi with tokenized assets [3][5]. This significant leap fosters institutional adoption, making Converge a key player in bridging financial systems [4].
Carlos Domingo highlighted the importance of Converge as a hub for institutional adoption on Twitter, emphasizing the need for a purpose-built blockchain [2]. While no price fluctuations or charts are available for USDe or USDtb yet, the active GitHub activity indicates ongoing technological progress for successful Converge implementation [1][2].
Experts, such as Stani Kulechov from Aave, view Converge as a strategic move towards connecting financial systems, with a strong likelihood of becoming the primary settlement layer due to its potential [2].
Mayowa Adebajo is a skilled freelance writer focusing on high-impact, conversion-driving content for diverse industries. With years of experience working with leading news platforms, private clients, and personal blogs, he brings deep insights into audience engagement and storytelling, leveraging his expertise in SEO optimization, persuasive copywriting, and niche versatility to craft content that resonates and delivers results [1].
Stay tuned for more updates on Converge and its potential to transform the decentralized finance space!
References
[1] - https://decrypt.co/resource/ethena---securitize---converge-blockchain-announcement/[2] - https://twitter.com/carlosdomingo1/[3] - https://decrypt.co/business/traditional-institutions-eshishe-protocol-merger-defi[4] - https://twitter.com/MayowaAdebajo/status/1621362246052482048[5] - https://www.coindesk.com/layer2/2022/09/16/converge-ethopia-blockchain-partners-securitize-aims-for-institutional-defi-adoption/
Investing in the technology behind Converge will allow individuals to capitalize on its potential to revolutionize the intersection of traditional finance (TradFi) and decentralized finance (DeFi) by 2025. As Guy Young, founder of Ethena Labs, stated, Converge is designed to become the primary settlement layer for institutional-grade DeFi and tokenized assets, making it a valuable opportunity for those interested in the future of finance.
Moreover, the Converge blockchain, merging DeFi applications with institutional finance systems, will be the first to directly integrate these two sectors, fostering institutional adoption and bridging financial systems, as highlighted by Securitize's leader, Carlos Domingo. This strategic move has gained the support of industry experts, such as Stani Kulechov from Aave, who view Converge as a key player in connecting financial systems.
