Japan-based digital asset infrastructure provider Progmat has completed the migration of its security token platform from Corda 5 to a dedicated Avalanche Layer 1, shifting the blockchain infrastructure used to manage more than ¥452 billion in outstanding tokenized securities. The figure does not represent a ¥452 billion cash transfer, new issuance or liquidity entering Avalanche’s public C-Chain. Instead, the migration changes the ledger and smart-contract environment used to record ownership and process transfers for securities already managed through Progmat.
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