Securitize and Ethena launch Ethereum-compatible blockchain

Securitize and Ethena Labs have unveiled Converge, an Ethereum-compatible blockchain designed to integrate decentralised finance (DeFi) with tokenised real-world assets (RWAs).

The platform aims to provide institutional investors with a secure and scalable pathway to leverage DeFi innovations while maintaining regulatory compliance.

Converge is compatible with the Ethereum Virtual Machine (EVM), enabling seamless use of Ethereum-based (CRYPTO:ETH) smart contracts, decentralised applications (dApps), and tools without modification.

Initial partners include prominent DeFi projects such as Pendle (CRYPTO:PENDLE), Avara (parent company of Aave Labs), Ethereal, Morpho (CRYPTO:MORPHO), and Maple Finance (CRYPTO:SYRUP).

Custodial services will be provided by Copper, Fireblocks, Komainu, and Zodia, while interoperability solutions will come from LayerZero (CRYPTO:ZRO) and Wormhole (CRYPTO:W).

Ethena will migrate its $6 billion DeFi ecosystem to Converge, including its USDe yield-bearing token and USDtb stablecoin backed by BlackRock’s BUIDL (CRYPTO:BUILD) token.

Together, these offerings aim to bridge traditional finance (TradFi) and DeFi by creating a regulated environment for tokenised securities.

Ethena’s (CRYPTO:ENA) governance token, ENA, will play a central role in securing the network.

It can be staked via sENA to support a permissioned validator set composed of financial institutions and centralised exchanges.

Additionally, USDe and USDtb will serve as gas tokens for transactions on the network.

Carlos Domingo, CEO of Securitize, highlighted the transformative potential of merging DeFi innovations with RWAs.

“Tokenisation brings cost savings and efficiencies, but combining it with DeFi can unlock entirely new use cases,” he stated.

Ethena founder Guy Young added that Converge could facilitate trading of previously unavailable assets like equities at scale.

The blockchain also incorporates advanced compliance features such as know-your-customer (KYC) protocols beyond simple wallet whitelisting.

This ensures that regulated instruments used as collateral meet stringent legal standards.

With growing institutional interest in tokenisation and DeFi, Converge represents a significant step toward integrating these ecosystems.

By combining regulatory rigor with blockchain innovation, Securitize and Ethena aim to position Converge as a leading platform for institutional adoption in the evolving digital finance landscape.

At the time of reporting, the Ethena (ENA) price was $0.3732, and the Ethereum (ETH) price was $1,908.78.