Converge is an EVM blockchain designed for the adoption of retail and institutional sales of real assets and DEFI products.
The developer of Stablecoin Ethena Labs and the real -asset Tokenization Society (RWA) Securitize are launching a new blockchain for retail and institutional investors who seek access to the economies of Defi and Tokenization.
According to an announcement of March 17, the next blockchain converge is an Ethereum virtual machine which will offer retail investors access to “standard deffi applications”. He will also specialize in institutional quality offers that will help connect traditional finances to DEFI opportunities.
Converge will be launched with several product offers, including ethereal, Morpho, Maple Labs, Pendle and Aave Labs’ Horizon.
The RWA infrastructure of Converge will benefit from the growing presence of rules on the tokenization market, with nearly $ 2 billion struck in various blockchains. The company recently announced that the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) exceeded $ 1 billion in net assets a year after its launch.
The Converge Blockchain will receive support for anchorage and copper police custody, as well as support from the last partner’s guard to stop, Redstone.
On the DEFI side, Converge will allow users to join the Ethena native governance token, ENA. Stables of Ethena Usde
The USDE and the USDTB will serve as gas token on the network.
The rise of the institutional challenge
The institutional challenge – when traditional financial institutions adopt DEFI systems in accordance with regulations – seems to gain ground while companies seek to rationalize their operations and access new performance opportunities.
Even JPMorgan, formerly skeptical about blockchain and Bitcoin BTC, said that institutional deffi “has the growth and transformer impact potential”.
The RWAS accelerates this trend, companies like McKinsey providing a tokenization market of 2 billions of dollars by 2030.
Like Michael Bucella, co-founder of Neoclassic Capital, noted it in an interview with Cintelegraph, the Rwas attract great investors because they treat “ineffectures of pricing” in traditional and digital assets.
“For Tradfi, it is a low price at reduced prices (that is to say the cost of capital) or an exposure to undervalued volumes.
Understanding stablecoins, which are chain representations of fiduciary currencies, the total RWA market has exceeded $ 240 billion, according to industry data.
According to Rwa.xyz, the total value of RWAS on the chain quickly approaches $ 20 billion among more than 90,500 holders, according to Rwa.xyz.
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