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Ethena Labs and Securitize have launched Converge, a new Layer 2 blockchain built on Arbitrum and powered by Celestia, designed to facilitate the tokenization of real-world assets (RWAs) with high speed and low costs. Positioned as a settlement layer for on-chain finance and RWAs, Converge aims to integrate permissioned real-world assets with permissionless decentralized finance (DeFi) on a single chain. The platform is expected to handle over $7 billion in dollarized assets, including USDe and BlackRock's BUIDL. Key technical features include validator backstops, 100-millisecond block times, and a native decentralized exchange (DEX). The project targets institutional demand from traditional finance by combining the scalability of Arbitrum with Celestia's data availability solutions.
🧪 Ethena’s and Securitize’s new L2 Converge just dropped its tech roadmap. Validator backstops. 100ms block times. A native dex. Is this the future of onchain finance? 🎧 New episode with @carlosdomingo + Guy Young 👇 https://t.co/EEYcVBqyko
🧠 The tech specs of @convergeonchain, the new blockchain by @ethena_labs and @Securitize, are out. Is it just another L2, or something more? @carlosdomingo and Guy Young delve into: 🩵 Why @Arbitrum + @Celestia 🤑 What TradFi really wants from crypto 💸 Whether private https://t.co/Ep6P3STaf7
🎙️ What happens when tokenization meets real institutional demand? @carlosdomingo joins @gdog97_ (@ethena_labs) and @laurashin on @unchained_pod to break down how Converge is bringing permissioned RWAs and permissionless DeFi together on a single chain. As Carlos put it: “Today https://t.co/ak6j2zx6mi
