Progmat Migrates ¥452 Billion in Tokenized Assets to Avalanche

Under the initiative dubbed Project Keystone, Progmat overhauled its system by implementing a mediator layer between its applications and the underlying ledger. This architectural shift decouples business functions from a single blockchain, enabling future multi-chain connectivity while maintaining existing issuance and ownership protocols. By switching from Java-based Corda to Solidity-based smart contracts, the platform has achieved compatibility with Ethereum Virtual Machine tools without requiring issuers to rebuild their existing products.

Internal tests conducted by Progmat suggest that rights transfers now execute three to five times faster than on the previous system, with Avalanche transactions reaching finality in under two seconds. While the company emphasizes that the migration caused minimal disruption to users, these performance figures remain internal estimates. To ensure institutional-grade reliability, the dedicated network is supported by AvaCloud, meeting SOC 1 and SOC 2 Type II standards. This infrastructure provides a foundation for the company’s upcoming cross-chain settlement plans, which include integrating tokenized bank deposits and stablecoins to facilitate coordinated delivery-versus-payment transactions.