Progmat Migrates $3 Billion Digital Securities Portfolio From Corda to Avalanche L1

cryptoblockchainstechfintech 2 posts · 2 accounts

Progmat has migrated its blockchain network from Corda 5 to Avalanche L1, shifting a tokenized asset portfolio valued at more than $3 billion. The upgrade replaces the legacy distributed ledger with the public-chain network, converting all security token projects to be compatible with the Ethereum Virtual Machine.

The infrastructure change enables rights and asset transfers to settle in under two seconds, operating three to five times faster than the previous system. The migration combines institutional compliance requirements with public-chain composability to streamline the firm's programmable securities framework.

From the sources (2 posts)

@cointelegraph

🇯🇵 UPDATE: Japan's Progmat completed the migration of $3B+ in digital securities from Corda to Avalanche L1.

@progmat_en

Progmat has migrated its blockchain from Corda 5 to Avalanche L1. All ST projects (JPY 452B+) are EVM-compatible, combining institutional requirements with public-chain composability. Rights transfers are 3-5x faster, settling in under 2

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