Avalanche news

Japan's largest digital asset platform Progmat has migrated its security token platform, including assets worth over ¥452 billion ($2.7 billion), from a private Corda 5 ledger to a dedicated public Avalanche Layer 1. The move, completed with zero disruption, involved redesigning the architecture to be blockchain-agnostic, enabling a multi-chain approach. Rights transfer processing is now 3 to 5 times faster, with finality under two seconds. Progmat, originally developed by MUFG and now independent, holds about 53% of Japan's security token market share and 64.6% of total issuance value. The transition to an EVM-compatible public chain allows global interoperability. In May, Progmat launched a working group to study tokenized Japanese Government Bonds and same-day settlement.

Grayscale named Ethereum, Solana, Avalanche, BNB Chain, and Canton Network as the blockchains best positioned to benefit from the growth of tokenized stocks. In a research note, the firm outlined three models for tokenized equities: the wrapper model (70%+ of current market), regulated rails via the DTCC pilot on Canton Network, and native on-chain issuance, exemplified by Securitize listing its SECZ shares on Avalanche and Solana. Grayscale expects all three models to coexist, with the issuer-native model holding the most promise, though liquidity and regulation remain challenges.

Hyundai Card has completed its first proof-of-concept for stablecoin-based cross-border remittance using Tether's USDT on the Avalanche blockchain. The test involved a real $20,000 transfer between Hyundai Motor Company's U.S. and Mexican entities, completed in about seven minutes versus three to four hours for traditional bank transfers. Hyundai Card handled regulatory, legal, and tax aspects, with blockchain firm Axiym also participating. A second PoC is planned for later this month with Hyundai's European entities, involving Visa and Circle's USDC, to test cost efficiency with various local currencies.

AVAX One Technology has begun searching for a new CEO after Jolie Kahn, who led the company's transformation into an Avalanche-focused digital asset treasury firm, stepped down effective July 3, the company announced Monday. Chief operating officer Pete Wylie Jr. has been appointed interim CEO. Kahn's departure was by mutual agreement, and she will receive a $160,000 cash payment, medical insurance reimbursement, and $250,000 worth of unregistered common shares under a separation agreement. AVAX One, which rebranded from AgriFORCE and planned to accumulate over $700 million in AVAX tokens, is among several crypto treasury firms that have struggled in public markets following the 2025 bull market.

Tokenization platform Securitize debuted on the New York Stock Exchange on Thursday under the ticker SECZ, after merging with a Cantor Fitzgerald-backed SPAC. The company simultaneously launched tokenized versions of its shares on Avalanche and Solana, marking the first time a newly public company has offered tokenized stocks. Securitize emphasized that its tokenized stock complies with existing US securities laws and is not a synthetic token or offshore wrapper. The SEC clarified in January that issuer-sponsored tokenized securities remain subject to securities laws, while a reported exemption for tokenized stock trading was delayed. Shares of Securitize closed at $12.30 on its first trading day, up 4.4%, with a market capitalization surpassing $1 billion. The broader market for tokenized real-world assets exceeds $43 billion, with analysts projecting growth to between $5.5 trillion and $8.2 trillion by 2030.

Securitize (SECZ), a BlackRock-backed tokenization firm, launched tokenized versions of its NYSE-listed common stock on Solana and Avalanche on its first trading day. The onchain shares, representing the same equity traded on the NYSE, are available to eligible U.S. investors via Securitize's regulated platform, with $295 million in tokenized shares held at launch. The move highlights the growing trend of bringing public equities onto blockchain rails, aiming to shorten settlement times and enable 24/7 transfers. By tokenizing its own stock, Securitize seeks to demonstrate the advantages of issuer-sponsored tokenization over third-party wrappers, showcasing its infrastructure built for firms like BlackRock and Apollo.

Securitize (SECZ), a BlackRock-backed tokenization firm, began trading on the New York Stock Exchange on Thursday, with shares up over 8% to $12.75. The firm went public via a merger with a Cantor Fitzgerald-backed blank check company. Simultaneously, $266 million worth of SECZ shares were tokenized on Solana and Avalanche, marking what the firm calls the largest tokenized stock globally. CEO Carlos Domingo stated this validates the move of public equities on-chain. Securitize President Brett Redfearn told Decrypt that tokenization can disrupt traditional stock lending by cutting out intermediaries, benefiting everyday investors. The firm had over $4 billion in assets under management as of June.

Avalanche Treasury Co. (AVAT) stock has fallen 73% since its Nasdaq debut on June 11, dropping to $0.50 from $1.85, after the company disclosed operational struggles in its first-quarter results. The firm, an AVAX-focused digital asset treasury, went public via a $675 million SPAC merger with Mountain Lake Acquisition Corp. In a Monday SEC filing, AVAT reported a Q1 net loss of $26.78 million and a net working capital deficit of $9.06 million. Unrealized losses on its crypto holdings, notably 13.39 million AVAX tokens acquired for $265.3 million but worth only $122.8 million at quarter-end, drove the losses. AVAX is currently trading at $6.7, down 50.8% year-to-date. Management had previously expressed 'substantial doubt' about the company's ability to continue as a going concern within a year, but the SPAC merger's completion provided access to additional capital. The company now believes it has sufficient liquidity for at least 12 months.

FIFA is using Avalanche's blockchain to test a new ticketing system for the 2026 World Cup, designed to combat bots, fraud, and scalping. The system involves two blockchain-based assets: a Right-to-Buy (RTB) giving priority access to purchase tickets, and a Right-to-Ticket (RTT) that fans redeem for official tickets through FIFA's existing infrastructure. According to Ava Labs, over 100,000 RTBs have been issued, secondary-market volume for RTTs exceeded $15 million, and combined RTB/RTT volume surpassed $25 million. The model shifts secondary sales into FIFA's controlled ecosystem, improving fraud prevention and fan data visibility, while hiding blockchain complexity from users.

FIFA has adopted a custom Avalanche blockchain for ticketing, loyalty, and digital collectibles for the 2026 World Cup, boosting the network's adoption. The integration includes migrating FIFA Collect and offering Right-to-Ticket collectibles for verified match access. The news comes as AVAX posts its first bullish signal in a month, climbing 8% in 24 hours amid a broader crypto recovery. However, AVAX had fallen over 24% in the prior 30 days. Technical analysts see a falling wedge pattern, with a potential 49% rally to $13.08 if it breaks resistance near $8.29, but caution remains if support at $6.22 fails.