Woofun AI reports that Progmat, Japan's leading securities token platform, has finalized its migration to a dedicated Avalanche Layer 1 blockchain. The move transfers over 452 billion yen ($2.7 billion) in managed tokenized assets from a Corda 5 permissioned chain, completing a process announced in February without disrupting financial institution operations.

The new EVM-based architecture eliminates single-chain dependency and supports multi-chain expansion. Asset rights transfer speeds have increased by 3 to 5 times, with transaction finality reduced to under 2 seconds. Progmat, backed by MUFG, Mizuho, and the Tokyo Stock Exchange, holds a 53% market share in Japan's securities token sector.

Additionally, a working group established in May is exploring Japanese government bond tokenization and T+0 settlement scenarios.