Ethena Labs and Securitize have launched a new EVM-Competitive Blockchain “Converge”, which aims to provide a powerful and purposeful settlement layer for institutional defi products. This is an important step towards building a bridge between the new blockchain traditional finance (Tradfi) and the decentralized finance (Defi). Converge’s main focus Stablecoins For example, it is on USDE and USDTB, which are its center. Ethena Labs and Securitize believe that the institutional Defi Finance is going to be the next major trend of the market and converge will play an important role in this direction.
Converge Blockchain, starts a new month
Converge Blockchain aims to create a strong settlement layer between Tradfi and the Defi, where traditional financial institutions and detective financial products can join each other. According to Ethena Labs, Converge will be used for the Tokanization of RWA with spots and leveraged trading settings for Defi at institutional level. The product based on this new block will provide a new opportunity for traditional financial institution, allowing them to expand their products and services in Defi International.
Securitize, which is a major platform in the field of toknization, has already released on-chain security of over $ 2 billion for many big institutions including BUIDL funds of Blackrock. Now securitize will use converge, so that it can talcate various financial assets and funds. In addition, major Defi Protocols like Aave Labs Horizon, Pendle Finance, Morpho Labs, Maple Finance and Airy Dex have already implemented their institutional level products on the converge. If you want to know that What is blockchainSo you can read the article attached to it by going to the link.
Converge’s importance for institutional defi
Ethena Labs and Securitize believe that the institutional Defi will bring major changes in the next decade of Finance Markets. Both these companies say that Converge will not only increase competition in the field of Defi, but it will also become a big opportunity for traditional finance markets. While the importance of speculative use in Crypto will continue, Ethena Labs believes that there will be a huge and less competitive opportunity in the field of institutional Defi.
Conclusion
The launch of Converge Blockchain is an important step in the field of institutional Defi, which will brighten the gap between traditional and decentralized world. In collaboration with Ethena Labs and Securitize, it can establish a new dimension in the blockchain financial world. With the arrival of Converge, financial institutions will now be able to take maximum advantage of Defi opportunities and it will prove to be a strong step towards the next stage of Defi.
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