Progmat has migrated over $3 billion in digital securities from R3 Corda to Avalanche L1
This migration marks a strategic adjustment in the choice of blockchain infrastructure by Japanese institutions.
Avalanche L1 attracts traditional financial assets to be on-chain with its high throughput and subnet features.
ABAB AI Insight
Progmat previously focused on R3 Corda enterprise-level solutions; this migration to Avalanche continues Japan's exploration of digital securities, reflecting an optimization of public chain performance and costs.
On the capital front, Progmat mobilized institutional funds and technical resources to complete the migration, motivated by the desire to enhance interoperability and efficiency, strategically paving the way for more RWA on-chain.
Similar to other institutions migrating from permissioned chains to public chains, this event is part of the transition of digital securities from experimentation to large-scale deployment, with Japan at the forefront of blockchain financial innovation in the Asia-Pacific region.
This essentially represents a restructuring of the industry chain: the shift from enterprise permissioned chains to public chain L1, driven by Avalanche's subnet and speed advantages that lower costs, concentrating capital towards open high-performance infrastructure.
ABAB News · Cognitive Law
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