Japan's largest security token platform migrates nearly $3B in RWA assets to Avalanche.
Tech & Launches ·
Progmat, Japan's largest security token platform, has migrated nearly $3 billion in tokenized assets to the Avalanche blockchain. The platform controls 64.6% of Japan's security token market by total issuance value, making the move a significant endorsement of Avalanche as infrastructure for real-world asset tokenization in a major developed market.
The migration positions Avalanche to capture growth in Japan's regulated security token ecosystem. Progmat's decision to consolidate its assets on a single chain signals confidence in Avalanche's technical capabilities and regulatory standing in the jurisdiction, while expanding the network's footprint in Asia's institutional finance sector.
It remains unclear whether additional Japanese platforms or asset issuers plan similar moves, or what timeline Progmat has set for completing the full transition of its portfolio.