Avalanche News: BlackRock BUIDL Surges 105% Amid Progmat Migration
Sakshi Jain
Avalanche News: BlackRock BUIDL Tops $900M, Progmat Complete Migration
BUIDL's balance jumped past $900 million in just seven days. That's not the only Avalanche News today making the rounds — a Japanese platform moved over 452 billion yen worth of assets onto the same chain within hours of that milestone.
Investors watching AVAX Token price action are asking one question: Is this a coincidence, or is something bigger lining up behind the scenes? Here's what most reports aren't telling you.
What Happened on Avalanche This Week
Two separate stories converged within a 24-hour crypto market update, and together they paint a picture of accelerating institutional interest in the network.
1. BlackRock's BUIDL Fund Accelerates on Avalanche
BlackRock's tokenized money market fund, BUIDL, has pushed past $900 million in assets under management on the Avalanche network.
That balance grew by close to $436 million in just seven days, a jump of roughly 105% — one of the sharpest weekly moves the fund has posted on any chain it operates on. BUIDL first launched in March 2024 as an institutional vehicle offering current income through short-duration, cash-like instruments while keeping principal stable.
Across every network it supports, including Ethereum, Solana, and Avalanche, the fund's combined size now sits near $2.87 billion, each token still pegged to a $1 net asset value.
That scale places BUIDL among the largest tokenized U.S. Treasury products in the on-chain finance space, and this week's surge suggests that Avalanche, specifically, is capturing a growing share of that institutional flow.
Source: Wu Blockchain X
2. Progmat Completes Full Migration to a Dedicated Avalanche L1
Progmat, a Japanese platform that issues and manages digital securities and stablecoins, confirmed it has completed migrating all of its security token projects to a purpose-built Avalanche L1.
The total value carried over in the migration tops 452 billion yen. The overhaul, run under an internal initiative called "Project Keystone," introduced a new integration layer named "Mediator" that separates core business logic from the underlying ledger, letting Progmat operate independently of any single blockchain going forward.
Technically, this meant rebuilding smart contracts in Solidity rather than the Java-based Corda format Progmat previously relied on, while keeping disruption to existing client companies to a minimum.
Of the assets involved, 45 publicly disclosed security token deals — worth more than 231.3 billion yen — are now fully EVM-compatible, giving Japan's largest digital securities platform a direct bridge into the broader public-chain ecosystem.
Source: Official Post
Why It Matters for Traders and Investors
For anyone holding or watching AVAX token, these aren't just isolated headlines — they're signals about where real-world asset (RWA) capital is choosing to settle.
BUIDL's growth shows that a major institutional player is actively routing more Treasury-backed capital onto the network rather than parking it elsewhere. A 105% weekly increase is a steep curve, and traders tend to treat that kind of acceleration as a sign of where liquidity trends are heading next.
Progmat's move tells a different but related story: regulated, real-world financial infrastructure — not just crypto-native capital — is now running on Avalanche. As Japan's largest security token platform, Progmat's shift affects 45 publicly disclosed projects worth over 231.3 billion yen, alongside dozens more under management.
Key Details Worth Tracking
BUIDL AUM on Avalanche: over $900 million, up ~$436 million (105%) week-over-week
BUIDL total fund size (all chains): approximately $2.87 billion
BUIDL launch date: March 2024
Progmat total migrated value: over 452 billion yen
Progmat publicly disclosed ST deals: 45, valued at above 231.3 billion yen
New settlement confirmation time on Avalanche L1: under 2 seconds
Rights transfer processing speed improvement: 3 to 5 times faster than before
Avalanche Price Today
Source: CoinMarketCap
What to Watch Next
The bigger question now is whether this pace holds. BUIDL's weekly AUM swings have been volatile in the past, so traders watching for a genuine trend shift will want to see whether the $900 million mark holds or keeps climbing over the coming weeks.
On the Progmat side, the next signal to watch is whether other regulated platforms in Asia follow the same path toward EVM-compatible infrastructure, especially now that AvaCloud has picked up SOC1 and SOC2 Type II certifications aimed at institutional compliance requirements.
Conclusion
Two very different players — a U.S. asset management giant and a Japanese security token platform — chose in the same week, for very different reasons. Whether this marks a turning point for institutional RWA activity on the network, or simply a strong week, will likely become clearer as AUM and migration data continue to roll in over the next few weeks.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are volatile and carry risk. Readers should conduct their own research and consult a licensed financial advisor before making investment decisions. CoinGabbar is not responsible for any losses incurred based on the content of this article.
