Security token platform Progmat announced on the 13th that it has completed the migration of its distributed ledger from Corda5 to Avalanche L1. As a result, all security token projects handled by the company, totaling over 452 billion yen as of today, are now EVM compatible, achieving interoperability in a public chain environment. The company introduced a blockchain integration layer called mediator, shifting to an architecture that is not dependent on any specific chain. Rights transfer processing is now approximately three to five times faster than before, with finality on Avalanche L1 achieved in under two seconds. New client companies no longer need to build nodes, which is expected to reduce lead times and costs. Progmat CEO Tatsuya Saito commented, 'This is a symbolic achievement that truly connects Japan's security token market with the global RWA ecosystem.'
AvalancheProgmat migrated to Avalanche L1, enhancing its ecosystem and demonstrating Avalanche's capability for large-scale security token projects.
Progmat completed migration to Avalanche L1, achieving EVM compatibility, faster processing, and reduced costs for clients.