Avalanche Expands in Japan

Avalanche is strengthening its presence in Japan’s financial market. Progmat, the country’s largest asset tokenization platform, is moving nearly $2 billion worth of real estate and bond assets to its own Avalanche-based Layer 1 network.

Progmat was launched with the backing of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest bank. Today, it accounts for 63 percent of all token issuances in the country. So far, the platform has processed assets valued at over ¥216.9 billion (approximately $1.4 billion). The company aims to become a core pillar of Japan’s digital financial infrastructure.

The new network will be built using AvaCloud. This solution allows companies to launch their own customized blockchains with independent rules and fee structures, without affecting the broader network. Tokens issued by Progmat will be compatible with Ethereum and other EVM-based networks, opening access to global liquidity and markets.

Several major Japanese corporations are involved in the project, including TIS Inc., Toyota Blockchain Lab, Konami, and Ponta, which serves around 100 million users. Additionally, the Japanese yen-backed stablecoin JPYC is already operating on Avalanche.

Experts predict that Japan’s tokenized asset market could reach $7 billion this year. Globally, the sector’s potential is estimated to exceed $2 trillion by the end of the decade. At the time of publication, AVAX was trading at $9.35, slightly down over the past 24 hours.