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Jul 13, 2026Progmat has completed the migration of its security-token platform from Corda 5 to a dedicated Avalanche Layer 1.
The company said every active project on the platform moved to the new network. Those projects represent more than ¥452 billion in underlying assets and issued securities. The migration makes the platform’s security tokens compatible with the Ethereum Virtual Machine, or EVM. Progmat describes itself as Japan’s leading security-token platform by domestic market share.
Rights transfers become faster
Progmat said the new setup processes rights transfers three to five times faster than the earlier system. Avalanche transactions reach finality in less than two seconds, according to the company.
The speed figure comes from Progmat’s internal testing and has not been independently verified. Finality records a completed network transaction, but it does not cover every banking or administrative step around a trade.
AvaCloud supports institutional controls
AvaCloud supplies the dedicated Avalanche network and operating services. Progmat said the setup meets SOC 1 and SOC 2 Type II assurance standards. Progmat and Ava Labs also created a response system for outages during nights and holidays.
Progmat has not released public transaction data showing how the new network performs during peak demand or across a large investor base. The company also has not announced new trading volumes tied directly to the change.
Progmat prepares for cross-chain settlement
The migration gives Progmat a base for planned links between security tokens, stablecoins and tokenized bank deposits. Datachain said in February that the partners plan cross-chain services for delivery-versus-payment and payment-versus-payment transactions.
As crypto. news reported, Progmat will support a Metaplanet and JPYC study into Bitcoin-backed digital credit. That project remains under review, with no issued product or fixed terms. Securitize also placed its listed shares on Avalanche and Solana in July.
Sources >> Progmat moves ¥452B in tokenized securities to Avalanche