Progmat has completed the migration of its security-token platform from Corda 5 to a dedicated Avalanche Layer 1.
The company said every active project on the platform moved to the new network. Those projects represent more than ¥452 billion in underlying assets and issued securities. The migration makes the platform’s security tokens compatible with the Ethereum Virtual Machine, or EVM. Progmat describes itself as Japan’s leading security-token platform by domestic market share.
The company carried out the work under Project Keystone. Progmat redesigned the system so its business functions no longer depend on one blockchain. It added a mediator layer between applications and the ledger. The structure allows the platform to connect with other chains later while keeping its existing issuance, ownership and transfer processes. A dedicated Avalanche L1 can also use rules tailored to regulated financial products.
Progmat, Japan’s largest STO platform, is now live on @avax
“All ST projects (over 452 billion yen) are now EVM-compatible, achieving both financial institution-level requirements and the utilization of public chains.
Rights transfers are accelerated 3-5 times faster than… https://t.co/xeMVc8EM8e
— Justin Kim (@justinkim415) July 13, 2026
Rights transfers become faster
Progmat said the new setup processes rights transfers three to five times faster than the earlier system. Avalanche transactions reach finality in less than two seconds, according to the company.
“Rights transfers are accelerated three to five times faster,” Progmat said.
The speed figure comes from Progmat’s internal testing and has not been independently verified. Finality records a completed network transaction, but it does not cover every banking or administrative step around a trade.
The company also moved its smart contracts from Java-based Corda code to Solidity-based EVM contracts. Progmat said it kept current functions and service requirements during the switch. It also said the migration caused minimal disruption for issuers. Existing users did not need to rebuild their products. EVM support gives developers access to Ethereum-based tools, but it does not make regulated securities freely available to public wallets.
AvaCloud supports institutional controls
AvaCloud supplies the dedicated Avalanche network and operating services. Progmat said the setup meets SOC 1 and SOC 2 Type II assurance standards. Progmat and Ava Labs also created a response system for outages during nights and holidays.
The firms aim to meet the control and availability standards used by regulated financial companies. The network remains application-specific rather than operating as an unrestricted retail trading venue.
AvaCloud chief executive Nick Mussallem called the transfer of more than ¥452 billion in regulated securities a test for institutional infrastructure. However, that assessment came from a company involved in the migration.
Progmat has not released public transaction data showing how the new network performs during peak demand or across a large investor base. The company also has not announced new trading volumes tied directly to the change.
Progmat prepares for cross-chain settlement
The migration gives Progmat a base for planned links between security tokens, stablecoins and tokenized bank deposits. Datachain said in February that the partners plan cross-chain services for delivery-versus-payment and payment-versus-payment transactions.
These systems would exchange assets and payments across different networks in one coordinated process. Progmat said its revised design can support more than one chain when asset features or investor needs differ.
Elsrwhere, BlackRock’s BUIDL fund reached about $900 million on the network, while Avalanche’s distributed real-world assets stood near $2.10 billion.
As crypto.news reported, Progmat will support a Metaplanet and JPYC study into Bitcoin-backed digital credit. That project remains under review, with no issued product or fixed terms. Securitize also placed its listed shares on Avalanche and Solana in July.
