Ethena Labs and Securitize are introducing a new blockchain called Converge, aimed at providing retail and institutional investors access to decentralized finance (DeFi) and tokenization opportunities. Announced at the Tokenize NYC conference, Converge is an Ethereum Virtual Machine (EVM) blockchain designed to support standard DeFi applications while offering specialized services for institutional investors. Launching with various product offerings, Converge will leverage Securitize's expertise in real-world asset (RWA) tokenization, which has already seen nearly $2 billion minted across different blockchains. With custodial backing from Anchorage and Copper, Converge will enable users to stake Ethena’s ENA governance token, utilizing Ethena’s USDe stablecoins as gas tokens. The growth of the RWA market, which exceeds $240 billion when including stablecoins, highlights the increasing interest from traditional finance in optimizing operations through regulatory-compliant DeFi systems, with projections of a $2 trillion tokenization market by 2030.

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