News, data and analysis on tokenized assets, market design and digital economic systems.
Tokyo company owned by eight financial shareholders led by Mitsubishi UFJ Trust and Banking at 49%, whose shared issuance infrastructure for Japan's trust banks and securities firms accounts for about 63% of cumulative domestic security-token issuance.
Tokyo company incorporated on 2 October 2023 with ¥100m of capital and eight financial shareholders: Mitsubishi UFJ Trust and Banking at 49%, NTT Data Japan at 13.5%, Mizuho Trust & Banking, Sumitomo Mitsui Trust Bank and Sumitomo Mitsui Financial Group at 7.5% each, and SBI PTS Holdings, JPX Market Innovation & Research and Datachain at 5% each. It operates Progmat ST for security tokens, Progmat Coin for stablecoins and Progmat UT for utility tokens as shared infrastructure for the trust banks and securities firms that originate Japanese tokenized issues, rather than issuing on its own account, and accounts for about 63% of cumulative domestic security-token issuance and 53.8% of projects. It said on 25 February 2026 that it would move more than $2bn of tokenized securities, largely real-estate-backed trust beneficiary interests and corporate bonds, onto a dedicated Avalanche layer-1 deployed through AvaCloud, with completion targeted for the end of June 2026.
No development naming Progmat, Inc. has yet been filed against a primary source. The register entry stands so the institution, its jurisdiction and its products are on the record.
Progmat, Inc. was established with capital of ¥100m to develop and operate platforms for issuing security tokens, utility tokens and stablecoins in Japan. Mitsubishi UFJ Trust and Banking held 49%, with NTT Data, Mizuho Trust & Banking, Sumitomo Mitsui Trust Bank, Sumitomo Mitsui Financial Group, SBI PTS Holdings, JPX Market Innovation & Research and Datachain holding the remainder.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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