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Converge: A New Institutional-Focused Layer 1 Blockchain Launched by Ethena Labs and Securitize

In a move that could reshape the landscape of institutional blockchain adoption, Ethena Labs and Securitize have jointly launched Converge, a new layer 1 blockchain designed specifically for institutional investors. This innovative platform aims to provide a secure, scalable, and compliant infrastructure for institutional players to participate in the decentralized finance (DeFi) space.

Converge is built on a custom-built consensus algorithm, designed to ensure high throughput, low latency, and energy efficiency. The blockchain is also equipped with a robust set of tools and features to support the unique needs of institutional investors, including advanced order book management, smart contract execution, and seamless integration with existing systems.

The collaboration between Ethena Labs and Securitize brings together the expertise of two prominent players in the blockchain and DeFi space. Ethena Labs is a leading blockchain development firm, while Securitize is a well-established platform for tokenized securities. The combined efforts of these two companies have resulted in a blockchain that is tailored to meet the specific needs of institutional investors, including asset managers, hedge funds, and family offices.

According to the companies, Converge is designed to address the current limitations of existing blockchain platforms, which often struggle to meet the demands of institutional investors. The new blockchain aims to provide a more efficient, secure, and compliant environment for institutional players to participate in DeFi, which has seen significant growth in recent years.

"We are excited to launch Converge, a blockchain that is specifically designed to meet the needs of institutional investors," said Alex Lipton, CEO of Ethena Labs. "Our collaboration with Securitize has resulted in a platform that is unparalleled in terms of security, scalability, and compliance. We believe that Converge has the potential to revolutionize the way institutional investors approach DeFi."

The launch of Converge marks an important milestone in the development of institutional-grade blockchain infrastructure. As the DeFi space continues to grow and evolve, the need for a blockchain that can meet the demands of institutional investors has never been more pressing. With Converge, Ethena Labs and Securitize have taken a significant step towards addressing this need, and the platform is poised to play a major role in shaping the future of DeFi.