{"id":125252,"date":"2025-03-17T21:16:29","date_gmt":"2025-03-17T21:16:29","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125252"},"modified":"2025-03-17T21:16:29","modified_gmt":"2025-03-17T21:16:29","slug":"ethena-labs-securitize-launch-blockchain-for-defi-and-tokenized-assets","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125252","title":{"rendered":"Ethena Labs, Securitize launch blockchain for DeFi and tokenized assets"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsStablecoin developer Ethena Labs and real-world asset (RWA) tokenization company Securitize are launching a new blockchain for retail and institutional investors seeking access to the DeFi and tokenization economies.\u00a0<br \/>\nAccording to a March 17 announcement, the forthcoming Converge blockchain is an Ethereum Virtual Machine that will provide retail investors with access to \u201cstandard DeFi applications.\u201d It will also specialize in institutional-grade offerings that will help bridge traditional finance with DeFi opportunities.\u00a0<br \/>\nThe Converge blockchain is announced at the Tokenize NYC conference on March 17. Source: CointelegraphConverge will launch with various product offerings, including Ethereal, Morpho, Maple Labs, Pendle and Aave Labs\u2019 Horizon.\u00a0<br \/>\nConverge\u2019s RWA infrastructure will benefit from Securitize\u2019s growing presence in the tokenization market, with nearly $2 billion minted across various blockchains. The company recently announced that BlackRock\u2019s USD Institutional Digital Liquidity Fund (BUIDL) has surpassed $1 billion in net assets one year after launch.\u00a0<br \/>\nThe Converge blockchain will receive custodial support from Anchorage and Copper as well as custodial support from Securitize\u2019s latest partner, RedStone.<br \/>\nOn the DeFi side, Converge will allow users to stake Ethena\u2019s native governance token, ENA. Ethena\u2019s USDe (USDE) and USDtb stablecoins will serve as the network\u2019s gas tokens.\u00a0\u00a0<br \/>\nRelated: BlackRock CEO wants SEC to \u2018rapidly approve\u2019 tokenization of bonds, stocks: What it means for crypto<br \/>\nInstitutional DeFi on the rise<br \/>\nInstitutional DeFi \u2014 when traditional financial institutions adopt regulatory-compliant DeFi systems \u2014 appears to be gaining traction as companies look to optimize their operations and access new yield opportunities.\u00a0<br \/>\nEven JPMorgan, once a blockchain and Bitcoin (BTC) skeptic, said institutional DeFi \u201chas the potential for growth and transformative impact.\u201d<br \/>\nRWAs are accelerating this trend, with the likes of McKinsey forecasting a $2 trillion tokenization market by 2030.<br \/>\nAs Neoclassic Capital co-founder Michael Bucella noted in an interview with Cointelegraph, RWAs are attracting big investors because they address \u201cpricing inefficiencies\u201d in both traditional and digital assets.\u00a0<br \/>\n\u201cTo TradFi, that is mispriced credit facilities (i.e., cost of capital) or exposure to underpriced volume. To crypto-native, that is low-volume, secure assets,\u201d said Bucella.<br \/>\nIncluding stablecoins, which are onchain representations of fiat currencies, the total RWA market has exceeded $240 billion, according to industry data.\u00a0<br \/>\nExcluding stablecoins, the total value of RWAs onchain is fast approaching $20 billion across more than 90,500 holders, according to RWA.xyz.\u00a0<br \/>\nThe new issuance volume of RWA shows a significant growth in stablecoins, US Treasury and private credit debt. Source: RWA.xyzRelated: Bitwise makes first institutional DeFi allocation<a href=\"https:\/\/cointelegraph.com\/news\/ethena-labs-securitize-blockchain-defi-tokenized-assets?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsStablecoin developer Ethena Labs and real-world asset (RWA) tokenization company Securitize are launching a new blockchain for retail and institutional investors seeking access to the DeFi and tokenization&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125252"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125252"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125252\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125252"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}