Ethena and Securitize are partnering to launch the Converge blockchain aimed at connecting real-world assets (RWA) with decentralized finance (DeFi). Utilizing technology from Arbitrum and the data availability network Celestia, Converge aims to deliver fast block times and allow users to pay gas fees using Ethena's tokens, USDe and USDtb. The mainnet launch is scheduled for the end of Q2 2025. The network will support both permissionless DeFi applications and permissioned institutional products, thus bridging traditional finance with crypto. Securitize's CEO highlighted that the timeline for the testnet and mainnet is contingent on integrating third-party services. The project aspires to onboard significant institutional capital into the blockchain space while ensuring high-performance and security through the Converge Validator Network, which will oversee network governance and security measures. Both companies, Ethena and Securitize, have substantial backgrounds in DeFi and asset tokenization, respectively, with billions in assets managed. The collaboration is positioned to push the boundaries of EVM-based networks.

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