The specialists in tokenization securitize and etena unveil institutional defi blockchain
Securitize and Etherna Labs, two companies working near Blackrock’s Money Market token Biddled.
Eden. $ 6 billion The Defi Ecosystem to convert, while securitize, the transfer agent for Blackrock’s Blaidl token, will bring suite to tokenized Real World Assets (RWW), as recently released Apollo’s Credit Fund tokenIn the new chain.
From the early days of Defi There was a combined -joint effort to expand beyond the cryptocurrencies and bring traditional chain ownership as collateral. Today, traditional financial companies are communicating to enter the tokenization breed, so it makes sense for companies such as Securitize and Ethena to create an institutional friendly path to the DeFI.
“The tokenization, per SE, is simply putting your security to another ledgers, and it makes costs and efficiency savings, but it is not necessary to lead to any significantly different in terms of what you can do with these possessions,” Securitize CEO Carlos Domingo said in an interview. “On the other hand, Crypto has developed a very vulnerable way of using digital ownership. If you could really bring back that DeFI innovation in the RWA space it could explode.”
Securitize and Etherna brought a strong firm of initial partners to converge, with Pendle, Avara (the parent company of Aave Labs), Ethereal, Morpho, and Maple Finance. Custodial services will be provided with copper, fireblocks, commain, and zodia, while interoperability will come by layerzero, wormhole and oracle support from redstone.
At the forefront of what could be built using the Converge Blockchain, Ethhena founder Guy Young said there would be new products that were securitized in the chain, opening new cases of use.
“That could be used as collateral within specialized currency markets, or it can be a trade of various properties that are not on-chain today in real size, so it can be equality or whatever, forward,” Young said in an interview. “We think something goal built for the intersection of Tradfi and Defi will be one of the biggest opportunities over the next few years.”
The Converge is compatible with the Ethereum Virtual Machine (EVM), which allows to operate intelligent contracts based on Ethereum, DAPPS, and tools without change. This will boast of the performance in accordance with the leading blockchains of the industry, according to a press release.
Etherna’s folk token management, ENA, will serve as a stakeable asset (by SENA) for Converge, which acquires a network with a permission set of validator consisting of traditional financial and centralized exchange creatures. Both USDE and USDTB will serve as gas tokens for the network.
Converge is a public open chain with a kind of wrapper of your customer-customer (KYC), which exceeds the whitelisting of purses, Domingo said.
“The DeFI is now designed specifically for permission and anonymous market participants and independent transactable assets,” Domingo said. “To bring that change into a context in which the collateral and the possession you promised in the protocol are actually a regulated instrument, there is a bunch of things beyond the purely white list of wallets and KYCs.”
