Ethena Labs, Securitize launch blockchain for DeFi and tokenized assets
17 Março 2025 - 5:35PM
Cointelegraph


Stablecoin 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.
According to a March 17 announcement,
the forthcoming Converge blockchain is an Ethereum Virtual Machine
that will provide retail investors with access to “standard DeFi
applications.” It will also specialize in institutional-grade
offerings that will help bridge traditional finance with DeFi
opportunities.
The Converge blockchain is announced at the Tokenize NYC
conference on March 17. Source: Cointelegraph
Converge will launch with various product offerings, including
Ethereal, Morpho, Maple Labs, Pendle and Aave Labs’
Horizon.
Converge’s RWA infrastructure will benefit from Securitize’s
growing presence in the tokenization market, with nearly $2 billion
minted across various blockchains. The company recently announced
that
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL)
has surpassed $1 billion in net assets one year after
launch.
The Converge blockchain will receive custodial support from
Anchorage and Copper as well as custodial support from
Securitize’s
latest partner, RedStone.
On the DeFi side, Converge will allow users to stake Ethena’s
native governance token, ENA. Ethena’s USDe
(USDE) and USDtb
stablecoins will serve as the network’s gas tokens.
Related: BlackRock CEO wants SEC to ‘rapidly approve’
tokenization of bonds, stocks: What it means for
crypto
Institutional DeFi on the rise
Institutional
DeFi — when traditional financial institutions adopt
regulatory-compliant DeFi systems — appears to be gaining traction
as companies look to optimize their operations and access new yield
opportunities.
Even JPMorgan,
once a blockchain and Bitcoin (BTC) skeptic, said
institutional DeFi “has the potential for growth and transformative
impact.”
RWAs are
accelerating this trend, with the likes of McKinsey forecasting
a $2 trillion tokenization market by 2030.
As Neoclassic Capital co-founder Michael Bucella noted in an
interview with Cointelegraph, RWAs are attracting big investors
because they address “pricing inefficiencies” in both traditional
and digital assets.
“To 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,” said Bucella.
Including stablecoins, which are onchain representations of fiat
currencies, the total RWA market has exceeded $240 billion,
according to industry data.
Excluding stablecoins, the total value of RWAs onchain is fast
approaching $20 billion across more than 90,500 holders, according
to RWA.xyz.
The new issuance volume of RWA shows a significant growth in
stablecoins, US Treasury and private credit debt. Source:
RWA.xyz
Related: Bitwise makes first institutional DeFi
allocation
...
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Ethena Labs, Securitize launch blockchain for DeFi
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