Progmat moves JPY 452B+ in digital securities to Avalanche L1, accelerating rights transfers by 5x.
Tech & Launches ·
Progmat has migrated over JPY 452 billion in digital securities onto Avalanche's Layer-1 network, according to avax.network. The transfer represents a significant institutional adoption of the blockchain for tokenized assets. Rights transfers on the platform have accelerated to operate at a 5x faster rate following the migration.
The move reflects broader institutional interest in Avalanche for regulated settlement and tokenized asset infrastructure. Avalanche's architecture includes customizable L1s—sovereign blockchains that inherit the network's security model while allowing application-specific configurations—making it an appealing platform for institutional financial services and high-volume transaction processing.
The specific operational mechanics of how Progmat's settlement processes achieve the 5x acceleration remain undisclosed, as does clarity on whether this performance gain applies to all asset classes on the platform or a subset of the migrated securities.