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Securitize and Ethena Are Building a TradFi-friendly L1 Blockchain

The Ethereum-compatible chain promises to be the 'settlement layer where TradFi will merge with DeFi.'

Mar 17, 2025 • 1 min read

Securitize and Ethena unveiled Converge, an Ethereum-compatible blockchain designed for tokenized real-world assets and institutional DeFi integration.

What’s the Scoop?

Ethereum Compatibility: Converge is Ethereum-compatible, supporting smart contracts, dApps, and tools without modification.
Strategic Partners: Initial partners include Avara, Pendle, Morpho, Maple Finance, and others, alongside custodians like Copper and Fireblocks.
Innovative Governance: Ethena’s ENA token acts as a stakeable asset for Converge, secured by permissioned validators tied to TradFi enterprises.

Let me get this straight

- We're taking assets from an open-source permissionless ecosystem, and putting them on a new L1 "with a permissioned validator set composed of traditional finance entities and centralized exchanges"

- We're staking synthetic dollar derivative for… https://t.co/9dLKi9Iggo
— David Hoffman (@TrustlessState) March 17, 2025

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