Once known just as a synthetic dollar provider in the DeFi world, Ethena Labs is on an important transformation path. The protocol is becoming an institutional DeFi platform that’s focused on compliance and traditional finance (TradFi) in order to bridge that space and the blockchain economy. Ethena will soon unveil a multi-product suite, and compliant DeFi offerings like stablecoins in its first wave. Eventually, it will launch its own chain, an institutional-grade one dubbed Converge. Ethena’s evolution is not merely a brand refresh. It represents a more extensive strategic pivot to seize three fast-growing sectors in crypto: the surging stablecoin
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