Ethena Labs, the leading global synthetic dollar protocol, announced a strategic partnership with the digital securities issuance platform Securitize to jointly launch the Converge blockchain network, designed specifically for institutional capital. This innovative infrastructure will for the first time achieve compliant interoperability between the traditional financial market and the DeFi ecosystem, establishing the foundation for the digital dollar era.
Driving Institutional Capital Inflow
The current global DeFi total locked value has exceeded $100 billion, but it still has huge growth potential compared to the trillions of dollars in the traditional finance market. Traditional financial institutions face core pain points such as the lack of a compliance framework, insufficient transaction settlement efficiency, and incompatible risk control systems. Converge provides a dedicated infrastructure designed specifically for institutional capital, solving the problem of the lack of customized solutions, and will attract billions of dollars in new capital to the chain. Ethena will natively integrate its core products USDe, USDtb, and iUSDe into Converge and export them in a way that traditional financial institutions can understand and interact with, facilitating seamless capital flow.
Strategic Cooperation between Ethena and Securitize
Ethena and Securitize, with their market leadership in their respective fields, have the ability to capture this huge opportunity. As the world's largest compliant asset tokenization platform, Securitize has cumulatively issued $2 billion in on-chain securities and serves over 500,000 institutional users, and its strong issuance capability will be the core pillar of Converge. More importantly, Securitize will deploy the issuance of all its future core tokenized assets on Converge, which will further expand to all asset classes, bringing tremendous growth potential to the Converge ecosystem.
Powerful Ecosystem Partners
Currently, five top-tier protocols have confirmed their participation: Horizon from Aave Labs, Pendle Institutional, MorphoLabs, Maple Finance/Syrup Finance, and Ethereal DEX. These protocols will provide comprehensive support for Securitize's tokenized assets, Ethena's stablecoins, and other financial innovations.
Future Outlook
The Converge will adopt a high-performance architectural design, fully compatible with EVM, allowing developers to conveniently deploy applications and develop smart contracts just like on the Ethereum . The blockchain is committed to building a secure and efficient asset settlement infrastructure, supporting both DeFi's innovative applications and providing professional services for institutional investors to enter the crypto asset field, especially in the core tracks of stablecoins and asset tokenization.
In terms of network governance, Converge adopts a permissioned node mechanism, with certified institutional validators responsible for network operations. Users can participate in network security maintenance by staking the ENA token. The network natively supports three core tokens: USDe, USDtb, and sENA, which will significantly improve transaction efficiency and reduce user operating costs. As an important bridge connecting traditional finance and crypto finance, Converge will continue to drive the innovation and upgrade of financial infrastructure, helping to build a more open and inclusive global financial ecosystem.
Ethena and Securitize will release more technical details and development documentation in the coming weeks, and will launch the official developer testnet shortly after, with the planned to go live in the second quarter.
