Ethena Labs and Securitize have announced the launch of Converge, a new Ethereum Virtual Machine (EVM)-compatible blockchain aimed at enhancing the accessibility of decentralized finance (DeFi) and tokenized assets for both retail and institutional investors. The blockchain is designed to merge traditional finance (TradFi) with DeFi, focusing on making real-world assets more accessible to traditional players. Converge is expected to launch in the second quarter of 2025 and is backed by Ethena Labs, the issuer of the USDe stablecoin. The initiative aims to attract institutional capital to the blockchain space, potentially transforming crypto economics for Wall Street. In related news, the cryptocurrency PancakeSwap's token, $CAKE, saw a 27.9% increase as its MEV Guard expanded wallet support for safer trades.