Progmat

Progmat is a Japanese platform for issuing and managing digital securities, formed in October 2023 by some of Japan's largest financial institutions and technology providers. Its security-token platform runs on an Avalanche L1.

About Progmat

Progmat provides the infrastructure that issuers and financial firms in Japan use to create and administer security tokens (STs), and it also runs a stablecoin platform. Ledger Insights describes it as founded by MUFG, with several other institutional backers. Its chief executive is Tatsuya Saito.

Products & Initiatives

On July 13, 2026, Progmat said it had completed moving its ST issuance and management platform from Corda 5 to an Avalanche L1, covering every ST project on the platform. It said the rebuilt platform separates the ledger from business functions through a mediator layer, and that multi-chain selection is an anticipated need.

Progmat also hosts the Digital Asset Co-Creation Consortium. Its working group on tokenized Japanese government bonds and on-chain repo published an interim summary on October 22, 2026 and opened a live verification phase, with the sandbox for that phase built on Canton Network.

Partnerships

On February 26, 2026, Progmat, Ava Labs and Datachain announced a strategic partnership to bring digital securities and stablecoins onto public blockchains, including multi-chain and cross-chain capabilities for the Progmat platform.