Japan's Progmat shifts $2.7B of tokenized assets to Avalanche's dedicated Layer 1
AI Market Summary
Progmat, a major Japan-based security token issuance and management platform, has migrated roughly $2.7B (JPY 452B) of tokenized assets from a private Corda-based ledger to a dedicated Avalanche Layer 1. The move signals growing institutional comfort with public-chain-aligned infrastructure for regulated tokenization, potentially improving Avalanche's credibility, network activity, and pipeline for real-world asset issuance in the near term.
Impact level
● Medium
Affected assets
AVAX/USDT-0.42%
AI Insight · AVAX/USDTAI Insight
▲ Bullish
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Progmat, a Japan-based platform for issuing and managing digital assets, has finished migrating its operations to the Avalanche blockchain. The company moved all active tokenized assets to a dedicated Avalanche Layer 1, covering more than JPY 452 billion in value (about USD 2.7 billion). Progmat previously ran on a private, permissioned ledger built on Corda 5, the report said.
