Progmat SaaS to issue security tokens, giving investors more options to trade STs, improving efficiency and expanding the size of the digital asset market in Asia

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London, 01 November 2024 – Progmat Inc along with NTT DATA and SBI R3 Japan Ltd, have released the SaaS version of “Progmat”, a digital asset issuance and management platform. 

The introduction of “Progmat SaaS” will enable a wide range of financial institutions to easily launch digital asset-related businesses without having to build blockchain/distributed ledger nodes on their own servers. It will also enable financial institutions to conclude the management of investors’ private keys within their institu, without having to outsource the management to a third party (custodian). As a result, businesses planning to issue security tokens (STs) and investors wishing to trade STs will have more options, which is expected to improve efficiency and expand the size of the digital asset market. 

“Progmat SaaS” has been developed on R3’s award-winning DLT platform Corda. Corda is an open, permissioned DLT platform powering the tokenization of assets and currencies connecting global markets. Corda enables tokenization with control, security and privacy, providing asset mobility in a permissioned, trusted environment. The underlying system architecture meets the requirements of governments, central banks and regulated institutions globally​. 

Specifically, it employs cloud-native infrastructure technologies such as Kafka and Kubernetes, aiming to achieve high availability and dynamic scalability. Another feature is the increased flexibility of infrastructure governance, making the addition and management of new nodes more efficient and configurable. 

Mitsubishi UFJ Trust and Banking, which currently uses the packaged version of “Progmat”, plans to migrate to “Progmat SaaS” in February 2025, in cooperation with the securities company that currently act as its custody provider. 

Other financial institutions, brokers and intermediaries who plan to introduce the system will be announced accordingly.