Securitize, a tokenization platform, collaborates with Ethena to launch an institutional level DeFi blockchain

According to BlockBeats, on March 18th, tokenization platforms Securitize and Ethena Labs collaborated closely with BlackRock's BUIDL Fund to create an Ethereum compatible blockchain called Converge. This blockchain aims to carry tokenized assets and provide institutional investors with innovation in decentralized finance (DeFi). Ethena offers a revenue generating USDe token and a USDtb stablecoin supported by BUIDL, migrating its $6 billion DeFi ecosystem to Converge. As the transfer agent of BlackRock BUIDL Fund, Securitize brings its series of tokenized real-world assets (RWAs), such as the recently issued Apollo Credit Fund token, into this new chain. Securitize and Ethena have brought Converge a group of strong initial partners, including Pendle, Avara (parent company of Aave Labs), Ethereal, Morpho, and Maple Finance. The hosting services will be provided by Copper, Fireblocks, Komainu, and Zodia, while interoperability will be achieved through Layer Zero, Wormhole, and RedStone's oracle support.