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.'
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
— David Hoffman (@TrustlessState) March 17, 2025
- 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
Bankless
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