Progmat Completes Avalanche Migration, Transitioning JPY 452bn in Tokenized Assets to EVM Environment
Tokenization platform Progmat has successfully migrated its digital securities issuance and management infrastructure from the Corda 5 distributed ledger to an Avalanche L1 network.
The infrastructure overhaul, dubbed “Project Keystone,” transitions the entirety of Japan’s leading security token platform—currently managing over ¥452 billion ($2.8 billion USD) in assets—into an Ethereum Virtual Machine (EVM) compatible environment.
According to the firm, the upgrade abstracts the underlying ledger layer via a new “mediator” architecture, separating core business logic from specific blockchain dependencies. The redesign addresses the dual requirements of institutional compliance and public-network composability while accelerating transaction processing speeds by 3x to 5x. Under the new Avalanche L1 architecture, transaction finality is achieved in under two seconds, enabling near-instantaneous settlement.
Read the full story here: https://www.fintechobserver.com/progmat-completes-avalanche-migration-transitioning-jpy-452bn-in-tokenized-assets-to-evm-environment/