Avalanche has reached a major milestone in its push into regulated finance after Progmat completed the migration of Japan’s largest security token platform to an Avalanche Layer 1 blockchain.
According to the announcement, the move transfers more than ¥452 billion ($2.7 billion) in regulated digital securities onto Avalanche’s infrastructure without interrupting ongoing operations for issuers or participating financial institutions.
Source: Avalanche
Migration was announced in February 2026 and completed right on schedule. There were no disruptions in operating security token platforms, and now transactions are processed three to five times quicker than before. Progmat is used by many large Japanese financial institutions for the issuance of tokenized assets.
The share of Japan’s disclosed security token transactions executed by Progmat is 53.4%, while its share of the issuance amount is 64.6%. The platform manages 45 out of 89 projects worth ¥231.3 billion in total.
Having shifted from a private blockchain to Avalanche, the company operates in multi-chain mode without changing any smart contracts.
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Government Bond Tokenization Becomes the Next Goal
Since the migration was completed, Progmat began to emphasize the need to tokenize JGBs on blockchain. In May 2026, Progmat created a Tokenized Government Bonds and On-Chain Repo Working Group, which consisted of banks, asset management companies, securities companies, and blockchain infrastructure firms.
The project is under consideration, involving domestic financial institutions and BlackRock Japan. The initiative seeks to provide for round-the-clock trading and real-time settlement through tokenization of government bonds and repos guaranteed by stablecoins. There will be a report ready by October and commercialization before year-end.
Technical Picture Shows Recovery Signs for Avalanche (AVAX)
The infrastructure milestone comes as Avalanche’s native token begins showing signs of recovery after a difficult June.
Crypto market analyst Michaël van de Poppe pointed out that the total amount of stablecoins circulating in Avalanche rose by 48% within a week, while the amount of tokens in BlackRock’s BUIDL fund on the Avalanche blockchain more than doubled during that period of time.
Source: X
He believes that the increasing interest can indicate the growing acceptance of the asset and that it might break above $10 should it maintain the momentum.
On the price chart, AVAX has been trading in the range of $6.00 and $6.30, forming higher lows after a long decline. The upcoming key level of resistance lies at $7.08.
If the price manages to close above that mark on a daily basis, the uptrend will gain strength and may head for the area of $10.50-$10.80, or 58% higher than the current price. Otherwise, if the price breaks the mark of $6.00, the uptrend setup will fail.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
