Securitize CEO Emphasizes Institutional Adoption as Key for DeFi Growth

Securitize and Ethena have launched Converge, an EVM blockchain aimed at enhancing DeFi and tokenized assets for institutional investors.

Key details:

• Converge will develop products and applications targeting institutional access to DeFi.
• Securitize plans to issue both new and existing tokenized assets on this blockchain.
• Partners include Maple, Morpho, Pendle, and Aave Labs’ Horizon, with custodial support from Copper, Fireblocks, and Komainu.
• The launch is anticipated within three months, with bi-weekly updates before the launch.
• Prototypes for the testnet are already in development.

CEO Carlos Domingo emphasized that Converge is not a private blockchain, addressing criticism regarding its validator set being composed of traditional finance entities. He stated that the platform aims to maintain flexibility and cross-chain compatibility.

Domingo also noted that DeFi has stagnated since 2021, asserting that institutional adoption is crucial for growth.