Ethena Labs and Securitize have announced their collaboration on Converge, a purpose-built blockchain designed to advance both DeFi and tokenized assets. This new platform represents a strategic partnership between two significant players in the blockchain space, combining Ethena’s DeFi expertise with Securitize’s leadership in real-world asset tokenization.

Converge is being developed as an Ethereum Virtual Machine (EVM) compatible blockchain that will serve dual markets – offering standard DeFi applications for retail investors while providing institutional-grade, compliant solutions for traditional financial institutions. This hybrid approach aims to address a significant gap in the current blockchain landscape.

Ethena plans to migrate their substantial DeFi ecosystem, currently managing nearly $6 billion in assets, to the Converge platform. Meanwhile, Securitize will issue both existing and future tokenized assets on Converge, building upon their track record of minting approximately $2 billion in real-world assets across multiple blockchains.

The platform has secured partnerships with prominent DeFi projects including Pendle, Aave Labs’ Horizon, Ethereal, Morpho, and Maple Finance. For institutional users, custodial support will be provided by respected providers such as Anchorage, Copper, Fireblocks, Komainu, and Zodia.

Converge will utilize Ethena’s native ENA token for network security and is scheduled to launch in the second quarter of 2025, positioning itself as a bridge between traditional finance and decentralized innovation.