# Securitize and Ethena Are Building a TradFi-friendly L1 Blockchain

*Author: Bankless*
*Published: Mar 17, 2025*
*Source: https://www.bankless.com/de/read/securitize-and-ethena-are-building-a-tradfi-friendly-l1-blockchain*

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Securitize and Ethena [unveiled](https://x.com/ethena_labs/status/1901672646015856749) 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](https://t.co/9dLKi9Iggo)— David Hoffman (@TrustlessState) [March 17, 2025](https://twitter.com/TrustlessState/status/1901683543547244662?ref_src=twsrc%5Etfw)
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