Ethereum Chain Converge Revolutionizes Crypto Economics

Converge Blockchain to Integrate Stablecoins for Transaction Fees

• Ethena Labs and Securitize announced Converge, an Ethereum-compatible blockchain.
• The chain will use stablecoins USDe and USDtb for transaction fees instead of native crypto assets.
• Converge aims to merge traditional finance with decentralized finance, focusing on institutional finance.
• Securitize’s $2 billion in tokenized products, including BlackRock’s BUIDL fund, will be issued on Converge.
• The network will have three tiers: a permissionless DeFi ecosystem, KYC-compliant applications, and new financial products.

Scheduled for launch in the second quarter of this year, Converge seeks to provide compliant access to on-chain financial markets by using stablecoins as gas tokens.