by Sana Bukhari
Ethena Labs and Securitize introduced the Converge blockchain that links traditional financial practices with DeFi systems. EVM-compatible blockchain technology serves users across finance sectors who want DeFi market access with tokenized assets.
On March 17 Converge revealed that retail clients will gain entry to basic DeFi tools combined with institutional-level financial products. When it launches the platform will have Ethereal, Morpho, Maple Labs, Pendle, and Aave Labs’ Horizon products available for use.
Through their partnership Securitize will enhance RWA by reaching new tokenization market participants who have moved $2 billion of assets over multiple blockchains. The company proudly shared that in less than 12 months since BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) hit the market it reached total net assets of $1 billion.
Converge Enhances DeFi With Custodial And Institutional Support
The partnership with RedStone adds to Anchorage and Copper’s custodial services to secure Converge’s institutional reliability in the market. Through DeFi functionality Converge enables users to invest ENA tokens in order to participate in Ethena network governance. Ethena’s USDe and USDtb stablecoins become the main currency for the blockchain which makes them easier to use and trade.
Traditional financial organizations trust institutional DeFi solutions more thanks to its growing acceptance by companies. JPMorgan and other leading financial institutions now see strong business potential in institutional DeFi schemes that will redefine the financial industry.
According to McKinsey real world assets will drive industry growth with forecasting $2 trillion market value by 2030. As noted by Neoclassic Capital co-founder Michael Bucella investors now choose RWAs for investment because these assets tackle market pricing problems.
In the opinion of traditional finance institutions a price imbalance exists between where credit facilities cost money and where large orders can be purchased at lower prices. Bucella defined RWAs as low-volume assets with high security for crypto investments.
The combined total value of stablecoins and RWAs in the RWA market stands at more than $240 billion according to business data records. Crypto holders amount to 90,500 people who are managing nearly $20 billion worth of RWAs on digital platforms according to RWA.xyz data.
Ethena Labs and Securitize use Converge to lead the DeFi and tokenization market’s development. Their blockchain solution accepts investors from retail and institutions to extend blockchain use into established financial methods. The expanding market for both retail-friendly blockchain applications and institutional DeFi solutions can make Converge essential for uniting these financial systems.
#blockchain #crypto, #decentralized, #distributed, #ledger
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