Japanese digital securities platform Progmat has completed the migration of more than $3 billion in digital securities from Corda to the Avalanche Layer 1 blockchain, according to Techub News, citing Cointelegraph. Progmat had previously built its platform on Corda and has now picked Avalanche as its underlying blockchain infrastructure. The report said the shift is aimed at improving transaction efficiency and scalability. It also described the move as a major technical shift in blockchain infrastructure for traditional financial institutions. No additional timeline or operational details were disclosed in the source brief.
Japanese digital securities platform Progmat has completed the migration of more than $3 billion in digital securities from Corda to the Avalanche Layer 1 blockchain.
According to Techub News, citing Cointelegraph, Progmat previously operated on Corda and has now chosen Avalanche as its base infrastructure to improve transaction efficiency and scalability.
The report said the migration reflects a major technical shift by traditional financial institutions in their choice of blockchain infrastructure.
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