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 fill traditional finances with DEFI opportunities.
The Converge Blockchain is announced at the Tokenize conference in New York on March 17. Source: Cointelegraph
Converge will be launched with various offers of products, 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 USD Institutional Digital Liquidity Fund in BlackRock (BUIDL) exceeded $ 1 billion in net assets a year after the launch.
The Converge Blockchain will receive an anchoration and copper caretaker support as well as the keeper of the last partner to stop, Redstone.
On the DEFI side, Converge will allow users to join the Ethena native governance token, ENA. The stablescoins of the USDE (USDE) and USDTB of Ethena will serve as gas tokens on the network.
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Institutional defect
The institutional challenge – when traditional financial institutions adopt DEFI systems in accordance with regulations – seems to be gaining ground while businesses seek to optimize their operations and access new performance opportunities.
Even JPMorgan, once skeptical of blockchain and Bitcoin (BTC), said that institutional deffi “has the growth and transformer impact potential”.
The RWAS accelerates this trend, with McKinsey providing a tokenization market of 2 billions of dollars by 2030.
Like the co-founder of Néoclassic Capital, Michael Bucella, noted it in an interview with Cointtelegraph, the Rwas attract major investors because they treat “ineffectiveness of pricing” in traditional and digital assets.
“For Tradfi, that is to say wrongly credit facilities (i.e. the cost of capital) or exposure to the undervalued volume. For crypto-native, that is to say low-volume and secure assets,” said Bucella.
Understanding stablecoins, which are representations in trustee currencies, the total RWA market has exceeded $ 240 billion, according to industry data.
According to Rwa.xyz, the total value of Rwas approaches $ 20 billion quickly on more than 90,500 holders, according to Rwa.xyz.
The new RWA emission volume shows a significant growth in stablescoins, the American treasury and private credit debt. Source: Rwa.xyz
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