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The Ethereum institutional privacy technology company EthSystems has officially been established to create Ethereum privacy solutions for institutions

The Ethereum institutional privacy technology company EthSystems has officially launched and received strategic funding support from ecosystem backers such as Bitmine, Sharplink Gaming, and Joe Lubin.EthSystems focuses on developing privacy technologies for banks, asset management companies, and other regulated entities, enabling institutions to execute financial transactions on the Ethereum network at scale while protecting sensitive information such as transaction details and client identities.The company was founded by the core team of the Institutional Privacy Task Force (IPTF) of the Ethereum Foundation. The team has publicly conducted a year-long open-source research and development on the EthSystems official website and has established partnerships with several central banks, regulatory agencies, large banks, and asset management institutions. EthSystems stated that while institutions have begun exploring stablecoins, tokenized assets, and Ethereum-based settlement solutions, large-scale adoption still faces privacy and compliance challenges.Financial institutions need more than just access to blockchain networks; they require a complete infrastructure that meets the protection of commercial secrets, regulatory requirements, and compatibility with existing financial systems. The goal is to create a "selective disclosure" privacy architecture that allows transaction participants to view only the information they are authorized to access while retaining the core advantages of Ethereum's decentralization, security, and openness, and complementing two other organizations: Ethlabs, which focuses on the research and development of Ethereum's core protocol and infrastructure; Ethereum Institutional, responsible for institutional collaboration, education, market research, and ecosystem coordination; and EthSystems, which focuses on application layer technology, transforming institutional needs into practical privacy protocols and financial systems.

Japan's largest security token platform Progmat has completed its migration to Avalanche, officially bringing over $2.7 billion in assets on-chain

Japan's largest securities token issuance and management platform, Progmat, has completed its migration to the Avalanche blockchain, transferring all managed tokenized assets worth over 452 billion yen (approximately 2.7 billion USD) from a Corda 5-based permissioned chain to a dedicated Avalanche Layer 1. This migration was announced in February this year and was completed as scheduled, without affecting the normal operations of financial institutions.Progmat stated that the new architecture no longer relies on a single blockchain and can support future multi-chain expansion. All smart contracts have been migrated to the EVM environment, and while maintaining the original functionality, the speed of asset rights transfer processing has increased by 3 to 5 times, with the final confirmation time for transactions reduced to under 2 seconds. Progmat was initially incubated by Japan's largest bank, Mitsubishi UFJ Trust and Banking Corporation (MUFG), and became an independent operation in 2023. It currently has the support of major Japanese financial institutions such as Mizuho Bank, Tokyo Stock Exchange, and SBI, holding a 53% market share in Japan's securities token market and accounting for 64.6% of the total issuance scale of securities tokens, covering most tokenized real estate and corporate bond projects.In addition, Progmat established a working group for the tokenization of Japanese government bonds and on-chain repurchase (Repo) in May this year, collaborating with asset management institutions, banks, and securities companies to research the tokenization of Japanese government bonds and explore application scenarios such as 24/7 trading and T+0 real-time settlement.
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