Catenaa, Wednesday, March 26, 2025 –Ethena Labs and Securitize have announced the launch of Converge, an Ethereum-compatible blockchain designed for institutional adoption of tokenized assets. The network is expected to go live in the second quarter of 2025.
Converge will serve as a compliant settlement layer for decentralized finance (DeFi), integrating built-in know-your-customer (KYC) verification and custody solutions. Ethena Labs, known for its synthetic dollar USDe and BlackRock-backed USDtb stablecoin, plans to migrate its $6 billion DeFi ecosystem to the new blockchain.
“Our vision is to create a settlement layer where traditional finance meets DeFi,” Ethena said in a statement, highlighting USDe and USDtb as core assets on the network.
Converge has secured partnerships with major custodians—including Copper, Fireblocks, Komainu, and Zodia—while DeFi protocols such as Aave, Maple Finance, Morpho, and Pendle will participate at launch. Securitize, which has issued $2 billion in on-chain securities, will use the network to tokenize and trade fixed-income products, leveraged credit, and equity-based offerings.
The blockchain will be secured by validators staking Ethena’s ENA token, reinforcing its decentralized infrastructure.
Converge’s introduction marks a significant step toward bridging traditional finance and DeFi, offering institutional investors a regulated platform for digital asset settlement.
