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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.

Gate announces Jason Fung as Head of Global Partnerships to accelerate global ecological cooperation布局

Gate today announced that Jason Fung has officially joined Gate as the Head of Global Partnerships. He will lead the global cooperation strategy, deepening long-term collaboration with high-quality projects, L1/L2 ecosystems, TradFi institutions, and Web3 partners, enhancing the platform's ecological value and global resource integration capabilities.Jason has over 15 years of industry experience in Web3, fintech, consumer technology, and gaming. He has worked at Sei, ABFinance, TikTok, and Alibaba, and has been involved in founding multiple Web2 and Web3 startup projects, accumulating rich experience in market expansion, ecosystem construction, asset operation, strategic cooperation, and international business development. He graduated from the Rotman School of Management at the University of Toronto with a Bachelor of Commerce degree.Jason stated, "I am excited to join Gate. The digital asset industry is welcoming more innovation and collaboration opportunities. I look forward to leveraging my experience in Web3, technology, and global cooperation to establish closer connections with global project parties, ecosystem partners, and industry participants, exploring more innovative opportunities and jointly promoting the development of the digital asset field."Jason's addition will further enhance Gate's global cooperation system, promote resource synergy across ecosystems and industries, and work with more partners to explore innovative applications of digital assets, supporting the construction and long-term development of the industry ecosystem.

Illustration OSL 90+ Home Ecosystem Partners: Global Stablecoin Payment and Trading Infrastructure

The Web3 asset data platform RootData has compiled the stablecoin ecosystem partners of the OSL Group, systematically presenting its role as a global stablecoin payment and trading infrastructure, from stablecoin payment networks and infrastructure to on-chain depth and institutional cooperation, and finally to a comprehensive layout of underlying security.Core stablecoin payment network: Launched the enterprise-grade compliant US dollar stablecoin USDGO, issued by Anchorage and operated by OSL, with tokenized funds from BlackRock, Goldman Sachs, and JPMorgan as reserve assets, and collaborated with leading stablecoin issuers such as Tether and Circle to jointly expand the stablecoin ecosystem; by expanding its own channels and acquiring Banxa, it connects and collaborates with withdrawal, recharge, and payment networks such as Visa, MasterCard, WorldPay, GoldStack, and Yellow Card; and compliant clearing and settlement channels are provided by leading banks such as Standard Chartered and DBS.On-chain depth: Leading public chains like Solana provide efficient and low-cost on-chain value transfer channels for its stablecoin system; at the same time, it partners with industry-leading asset management companies such as Franklin Templeton, Huaxia Fund, and Southern Eastern to offer attractive RWA financial products, expanding the on-chain application ecosystem of stablecoins.Security infrastructure foundation: Institutional-grade asset custody is provided by Fireblocks, Cactus, supporting multiple wallets such as MetaMask, TrustWallet, and Ledger, with KYC/AML compliance risk control supported by Chainalysis and Sumsub.OSL has built a complete ecosystem around stablecoin payments and trading. From stablecoin issuance and trading to fiat and digital currency withdrawals, recharges, and clearing and settlement, and to high-performance blockchain and compliant security infrastructure supporting enterprise-grade payments and treasury management, OSL, as a leading representative in the Asian stablecoin sector, is leveraging its global compliance, banking network, and ecological advantages to construct a full-stack compliant stablecoin payment application ecosystem for the market and clients.Cryptocurrency projects actively showcasing their partner networks have become a key way to enhance transparency and market trust. It is reported that RootData welcomes Web3 projects to claim the data and continues to track and open more project business relationship disclosure channels. The platform has continuously released multiple editions of the cryptocurrency project ecosystem map, nominating Web3 ecosystem partners serving upstream clients such as Visa, Stripe, and Coinbase.
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