Crypto
- Ethena Labs and Securitize are launching Converge, a blockchain for tokenising real-world assets (RWAs) and supporting Ethena’s stablecoins.
- It targets institutional investors with regulatory compliance and custodial solutions.
- Partnerships with major platforms will ensure interoperability among dApps.
- Converge aims to merge traditional finance with DeFi, driving RWA adoption.
The real-world asset (RWA) revolution is continuing its merry march toward mass adoption with the latest reveal from Ethena Labs and Securitize.
The two tokenisation experts have teamed up to create a new, EVM-compatible blockchain, Converge.
As you’d expect, the network will be purpose-built for RWAs – specifically Ethena Labs’ flagship stablecoins USDe and USDtb.
The project will be targeted at institutional investors who are steadily flocking to digital assets thanks to their fast, efficient 24/7 settlement times.
Related: Standard Chartered Adjusts 2025 Price Estimates for Ethereum, Bitcoin
Converge to Build Institutional Custody and Settlement Infrastructure
The Converge protocol will play a significant role in what Ethena Labs believes will be a secondary core use case for blockchain tech moving forward – ‘storage and settlement…[of] tokenized assets’.
We see two core use cases for blockchains:
i) Settlement for permissionless spot and leveraged DeFi speculation
ii) Storage and settlement for stablecoins and tokenized assets
While the speculation use case has and will continue to play an important role in crypto, we see a… pic.twitter.com/ZbR5A8V0os
— Ethena Labs (@ethena_labs) March 17, 2025
The team believes their collab with Securitize will put them in the box seat to win the market share for the next era of Web3.
Ethena Labs and Securitize have both made a name for themselves across the digital assets industry, particularly in the institutional space.
Thanks to a slate of partners, such as Pendle, Aave and Pyth, Converge can get off to a hot start featuring strong interoperability. Additionally, integration with Anchorage and Fireblocks, among other firms, will provide institutional-grade custodial solutions.
Ethena Labs Co-Founder Believes Converge Will Transform Tokenisation Market for Institutions
Speaking on the announcement, founder of Ethena Labs Guy Young was excited about Converge’s potential in shaping the future of RWAs and DeFi.
We’re developing Converge to fill a clear gap in the market as the go-to settlement layer for institutional-grade DeFi and tokenized assets.
Ethena Labs Founder Guy Young
Similarly, Securitize’s CEO Carlos Domingo anticipated the Converge network becoming a key protocol for storing and transacting tokenised assets as regulations become more transparent across multiple nations.
Institutions have been watching DeFi evolve with interest, but the lack of regulatory clarity and institutional-grade infrastructure has hindered their participation…With Converge, we’re solving this problem by creating a purpose-built blockchain designed to seamlessly bridge traditional finance with the opportunity of DeFi.
Securitize co-founder and CEO Carlos Domingo
Related: XRP Up 15% as Ripple Expands Reach, Files Crypto Custody Trademark
