🚀 BlackRock & Ethena Labs Launch "Converge" – A Blockchain for Institutional DeFi

BlackRock, the world’s largest asset manager, is deepening its involvement in crypto with a new partnership with Ethena Labs to launch Converge, a blockchain optimized for institutional DeFi. This marks a major step toward bridging traditional finance (TradFi) and decentralized finance (DeFi).

What is Converge?

Converge is a new Ethereum Virtual Machine (EVM)-compatible blockchain built by Ethena Labs and Securitize. It’s designed to support both:
✅ Permissionless DeFi (open to all users)
✅ Permissioned finance (for institutions needing compliance)
✅ Tokenized financial products, integrating $6B in DeFi assets

By staying connected to Ethereum’s Real World Assets (RWA) ecosystem, Converge aims to make institutional adoption of blockchain technology seamless.

Institutional Adoption: The Key Focus 🏦

🔹 Securitize will handle tokenized asset issuance, expanding beyond on-chain Treasuries.
🔹 Ethena Labs will integrate its stablecoins USDe, USDtb, and iUSDe, enabling institutional-grade financial products.
🔹 BlackRock’s involvement signals that Wall Street is getting serious about DeFi.

Market Impact: ENA Coin Jumps 📈

Following the announcement, ENA Coin surged 5%, reflecting investor optimism about institutional interest in crypto.
With regulatory clarity improving in the U.S., projects like Converge could pave the way for more regulated, large-scale blockchain adoption.

Converge’s Tech & Financial Framework 🛠

✅ Institutional validators will stake ENA tokens to secure the network.
✅ USDe & USDtb will be used as gas tokens, streamlining transactions.
✅ Cross-chain integrations include LayerZero, Wormhole, and Pyth Network for price oracles.
✅ Key DeFi projects onboard: Horizon (Aave Labs), Pendle, Morpho Labs, Maple Finance, and EtherealDEX.

Why This Matters: The Future of Institutional DeFi

With BlackRock backing Converge, DeFi is moving beyond its "Wild West" phase. Traditional finance giants now see the potential of blockchain-based financial products, and Converge could be the bridge that finally brings big institutional money into DeFi.

TL;DR: BlackRock Goes DeFi 🏦➡️🌐

• BlackRock partners with Ethena Labs to launch Converge, a blockchain optimized for institutional DeFi.
• Supports permissionless DeFi + regulated institutional finance.
• Securitize will handle tokenized assets; Ethena’s stablecoins will power financial products.
• ENA Coin surged 5%, showing market enthusiasm.
• DeFi is moving toward mainstream adoption as Wall Street embraces crypto.