Japan-based Progmat has completed the migration of its security token platform from Corda 5 to a dedicated Avalanche Layer 1, moving all active projects to the new blockchain as it expands its digital securities infrastructure.
The company said the migrated projects represent more than ¥452 billion in issued securities and underlying assets. The move also makes the platform compatible with the Ethereum Virtual Machine (EVM), allowing developers to build with Ethereum-based tools while maintaining the platform’s existing issuance and transfer processes.
Progmat, Japan’s largest STO platform, is now live on @avax
“All ST projects (over 452 billion yen) are now EVM-compatible, achieving both financial institution-level requirements and the utilization of public chains.
Rights transfers are accelerated 3-5 times faster than… https://t.co/xeMVc8EM8e
— Justin Kim (@justinkim415) July 13, 2026
Progmat said it remains Japan’s largest security token platform by domestic market share.
Why did Progmat move its security token platform to Avalanche?
The migration was completed under Project Keystone, an initiative designed to modernize the platform and remove its dependence on a single blockchain.
As part of the upgrade, Progmat introduced a mediator layer between its applications and the blockchain. This new design allows the platform to connect with multiple blockchains in the future without changing how security tokens are issued, owned, or transferred.
The dedicated Avalanche Layer 1 also allows the network to operate with rules designed for regulated financial products while remaining separate from public retail trading networks.
Platform gains EVM support and faster transaction processing
Progmat said the new platform processes rights transfers three to five times faster than the previous Corda-based system. According to the company, Avalanche reaches transaction finality in less than two seconds, improving the speed of blockchain settlement.
The company also migrated its smart contracts from Java-based Corda code to Solidity, the programming language used across Ethereum-compatible networks.
Progmat said existing issuers experienced minimal disruption during the migration and did not need to rebuild their products. While the platform now supports EVM tools, the company noted that regulated security tokens are not freely accessible through public crypto wallets.
What’s next for Progmat after the migration?
The new infrastructure is expected to support future cross-chain settlement services involving security tokens, stablecoins, and tokenized bank deposits.
Earlier this year, Datachain said it was working with Progmat to develop cross-chain delivery-versus-payment (DvP) and payment-versus-payment (PvP) systems that allow assets and payments to settle across different blockchains in a coordinated transaction.
AvaCloud provides the dedicated Avalanche network and related operating services. Progmat said the infrastructure meets SOC 1 and SOC 2 Type II assurance standards. At the same time, Ava Labs and Progmat have also established a joint response system to handle outages outside normal business hours.
The migration comes as activity on Avalanche’s tokenization ecosystem continues to grow. BlackRock’s BUIDL fund has reached about $900 million on the network, while Avalanche hosts roughly $2.10 billion in tokenized real-world assets.
Progmat is also supporting a separate study with Metaplanet and JPYC on Bitcoin-backed digital credit, while Securitize expanded its tokenized shares to Avalanche and Solana earlier this month.
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