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Progmat Migrates $2.7B in Tokenized Assets to Avalanche on July 13

Project Progress Partnerships & Ecosystem

2026-07-13 14:34:00

AVAX2.59%

According to The Block, Progmat, Japan's largest securities token issuance and management platform, completed the migration of its entire platform and existing tokenized assets from a private Corda 5-based chain to public blockchain Avalanche on July 13, covering assets valued at approximately 452 billion yen ($2.7 billion). The migration maintained existing contract behaviors and specifications with no service interruption for financial institutions. Transaction processing speed improved 3-5 times, with settlement time reduced to under 2 seconds. Progmat, incubated by Mitsubishi UFJ Trust Bank and spun off in 2023, currently accounts for about 64.6% of Japan's securities token issuance market.

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