Avalanche has successfully supported the launch of Progmat’s Layer 1 (L1) blockchain, facilitating the seamless migration of over ¥452 billion ($3 billion USD equivalent) in regulated digital securities. The transition occurred without disruption to issuers or participating financial institutions, marking a significant milestone for institutional adoption of blockchain infrastructure in Japan.
Following the migration, ownership transfers on the Progmat platform are now reported to be three to five times faster, highlighting tangible operational improvements derived from Avalanche’s L1 architecture. This advancement underscores Avalanche’s growing role in regulated enterprise environments where reliability, compliance, and transaction efficiency are critical.
Notably, the assets migrated are already live in production—not part of a pilot or test phase—reinforcing Avalanche’s positioning as a viable infrastructure for real-world, regulated financial workflows. However, while the announcement confirms successful migration and enhanced transfer speeds, it does not provide data on subsequent increases in on-chain activity, new security issuances, or broader market demand following the move.