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.
To meet institutional security standards, the platform integrated Ava Labs’ "AvaCloud" infrastructure, which carries SOC 1 and SOC 2 Type II compliance certifications. The migration converted existing Java-based Corda smart contracts into Solidity-based EVM contracts without altering operational specifications or disrupting existing enterprise participants.
"The completion of this Avalanche integration represents a landmark moment where the Japanese security token market connects directly with the global real-world asset (RWA) ecosystem," said Tatsuya Saito, Founder and CEO of Progmat.
Nick Mussallem, CEO of AvaCloud, added that executing a full migration of over ¥452 billion in regulated securities without operational disruption sets a new benchmark for institutional-grade blockchain infrastructure.
Norbert Gehrke
