Progmat Completes $2.7 Billion Security Token Migration to Avalanche

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Progmat has completed the migration of its security token platform to Avalanche, moving $2.7 billion in tokenized assets from a private Corda ledger to the public blockchain, as first announced in February. The migration marks a significant shift in Japan's regulated digital asset market, with Progmat holding about 53% of the domestic security token market share. The platform maintained operational continuity for financial institutions during the transition, with all existing smart contracts ported to the Ethereum Virtual Machine without disruption. Rights transfer processing is now approximately 3 to 5 times faster than previously, with finality achieved in under 2 seconds, improving settlement efficiency for tokenized real estate and corporate bonds.
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