Progmat moves ¥452B to Avalanche network

• Progmat has migrated more than ¥452 billion in tokenised securities to Avalanche.
• The company said rights transfers are now three to five times faster than before.
• The move supports future cross-chain settlement for regulated digital assets.

Progmat has moved more than ¥452 billion in tokenised securities to an Avalanche (CRYPTO:AVAX) blockchain network.

The company said every security token project on its platform was migrated without changing existing services.

"Rights transfers are accelerated three to five times faster," Progmat said.

Progmat said the new network processes rights transfers three to five times faster than its previous system.

The company also migrated its smart contracts to Ethereum Virtual Machine technology while keeping its institutional controls.

Progmat said the migration will support future links between security tokens, stablecoins and tokenised bank deposits.

The company has not released public performance data, and its planned cross-chain settlement services remain under development.

At the time of reporting, Avalanche price was $6.50.