Securitize CEO Carlos Domingo has emphasized that institutional adoption is crucial for the growth of decentralized finance (DeFi) during the announcement of Converge, a new EVM blockchain set to support DeFi and tokenized assets. Co-developed with Ethena, Converge aims to build products for institutional investors, facilitating their access to DeFi. The blockchain will host both future and existing tokenized assets, with support from partners like Maple, Morpho, and Aave Labs, alongside custodial services from Copper and Fireblocks. Domingo revealed that the collaboration with Ethena began when they approached Securitize during its fundraising for a new chain. He stated that the aim is to fill a market gap by serving as a settlement layer for institutional DeFi. Despite some criticism about the nature of Converge, Domingo clarified it is not a private blockchain but emphasizes a multichain ecosystem. Clear regulatory frameworks and infrastructure are believed to be key in integrating offchain assets into blockchain ecosystems effectively.

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