Japanâs Progmat digital securities platform, originally founded by MUFG, has completed a new funding round, introducing three new investors and slightly diluting MUFG's stake from 49% to 42%. Progmat, already the leading digital securities issuance platform in Japan, aims to expand globally while diversifying the types of tokenized assets it offers.
đ Key Points:
đšÂ New Investors:
Norinchukin Trust Bank (Nochun): Specializes in agriculture, forestry, and fishery commodities and aims to tokenize assets traditionally limited to institutional investors.
Aozora Bank: Experienced in bond issuance, LBO finance, and real estate, with plans to advance tokenization in these areas.
Kenedix: A major real estate asset manager with experience in tokenized real estate. It plans to launch a mobile app for security tokens, utility tokens, and stablecoins.
đšÂ Funding Impact:
The funding round diluted stakes for existing shareholders, including SMBC, Mizuho, and Sumitomo Mitsui Trust, whose holdings dropped from 7.5% to just under 6.5%.
Progmat CEO Tatsuya Saito emphasized the platformâs ambition to evolve from domestic "national infrastructure" into a global-scale product backed by a strong team.
đšÂ Tokenization Expansion:
Japanâs focus on real estate tokenization is set to diversify with contributions from new investors looking at bonds, commodities, and utility tokens.
Stablecoins play a central role in Progmatâs vision, especially for cross-border payments and settlement of digital securities, leveraging smart contracts for automation and certainty.
đšÂ Strategic Approach:
CEO Tatsuya Saito shared insights on creating innovation within a bank, framing Progmatâs founding as a âsurvival strategyâ for trust banksâleveraging blockchain to automate ledger management.
Progmatâs independence from MUFG was emphasized through branding decisions, avoiding venture capital firms and courting neutral trust-focused investors.
đĄ Why It Matters:
đšÂ Global Ambitions: Progmatâs move to scale globally positions it as a key player in the international digital securities market, competing with platforms like Nomuraâs BOOSTRY.
đšÂ Diversified Tokenization: With plans to tokenize diverse assetsâincluding bonds, commodities, and stablecoinsâProgmat is broadening its appeal beyond real estate.
đšÂ Stablecoin Integration: By acting as a stablecoin issuance platform, Progmat bridges gaps in cross-border payments and settlement automation, further enhancing its utility for institutional clients.
đšÂ Bank-Initiated Innovation: Progmat serves as a model for fostering innovation within traditional banks, demonstrating how blockchain can transform ledger-based operations.
Progmatâs funding round and strategic direction underscore its ambitions to expand tokenization beyond Japan while pioneering blockchain-based financial solutions in the global market.

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