The ETHEREUM compatibility chain aims to rethink the encryption economics for Wall Street

Ethena Labs and Securitize Declare Concerge, which is a Blockchain compatible with a new ETHEREUM that will use Stablecoins instead of the original encryption assets of transactions.

The new chain seeks to become “the first layer of settlement designed for this purpose as you will merge Tadfi with Defi, focus on USDE & USDTB and its installer Ena,” ethena Claim Monday.

Securitize said in separate from “access to” compatible access to the financial markets on the series. statement.

It is scheduled to be launched in the second quarter of this year, the new chain will allow users to pay the gas fees using USDE, USDTB, and a dollar Stablecoins from Ethena Labs.

But this is not the first time that the idea of ​​using Stablecoins has been done for gas and settlement fees.

While the lens chain (using AAVE’s GHO) and the Hilla series (using HLUSD) implemented Stablecoins as gas symbols, Convert represents the first attempt to expand this model for institutional financing.

More than that, the initiative comes amid an increase Institutional interest in The decentralized financing and Symbolic originsAlthough some players remain reluctant to adopt volatile graphics systems.

The CongRge will work as a 2 -billion -dollar distinctive products, including the Blackrock Buidl Fund, which has recently crossed a billion dollars of management assets.

The new Blockchain will work at three parallel levels: without permission Defi The ecosystem, the applications that are guilty of the interactions compatible with KYC, and the new financial products based on the distinctive securities of Securitize.

The CongRge will work as a 2 -billion -dollar distinctive products, including the Blackrock Buidl Fund, which has recently crossed a billion dollars of management assets.

The new Blockchain will operate with three parallel levels: the DEFI ecological system without permission, applications arranged on KYC interactions, and new financial products based on the distinctive symbol portfolio for Securitize.

The CONGRGE network will be secured by the auditors who make ENA ENA code from Ethina while maintaining the costs of the transactions provided in dollars.

The series looks forward to “institutional flows on board to Defi”, with “different asset categories” prescribed for the symbol through Securitize, Tsun Ngai Lee, CEO of Pendle, Decipher.

To date, five major Protocols have committed to construction on Convert, with AAVE Labs Horizon, Morpho Labs, MAPLE Finance, and signing Etherealdex on PENDLE side.

The institutional nursery providers will provide anchor, copper, fireproofes, komainu, and zodia asset management services.

Convert will also be operated by Layerzero and Wormhole, with Oracle support from Redstone and Pyth.

Edit Sebastian Senkler

Editor’s note: He adds comments from the CEO of Pendle