migration

Japan's largest securities token issuance and management platform, Progmat, has completed its migration to the Avalanche blockchain, transferring all managed tokenized assets worth over 452 billion yen (approximately 2.7 billion USD) from a Corda 5-based permissioned chain to a dedicated Avalanche Layer 1. This migration was announced in February this year and was completed as scheduled, without affecting the normal operations of financial institutions.Progmat stated that the new architecture no longer relies on a single blockchain and can support future multi-chain expansion. All smart contracts have been migrated to the EVM environment, and while maintaining the original functionality, the speed of asset rights transfer processing has increased by 3 to 5 times, with the final confirmation time for transactions reduced to under 2 seconds. Progmat was initially incubated by Japan's largest bank, Mitsubishi UFJ Trust and Banking Corporation (MUFG), and became an independent operation in 2023. It currently has the support of major Japanese financial institutions such as Mizuho Bank, Tokyo Stock Exchange, and SBI, holding a 53% market share in Japan's securities token market and accounting for 64.6% of the total issuance scale of securities tokens, covering most tokenized real estate and corporate bond projects.In addition, Progmat established a working group for the tokenization of Japanese government bonds and on-chain repurchase (Repo) in May this year, collaborating with asset management institutions, banks, and securities companies to research the tokenization of Japanese government bonds and explore application scenarios such as 24/7 trading and T+0 real-time settlement.

The decentralized prediction market World.xyz announced on platform X that after a review by the team over the past 24 hours, it has decided to migrate from Solana to Robinhood Chain, stating that this strategic adjustment was made after careful consideration, while also thanking the Solana Foundation and community for their support.It is reported that World.xyz has launched on the Phantom wallet and its official website, supporting users to trade cryptocurrency prices and event contracts such as the 2026 World Cup, using Chainlink as the primary oracle infrastructure, and utilizing Phantom stablecoin as the settlement asset.

Paul Atkins, the Chairman of the U.S. Securities and Exchange Commission (SEC), stated that over the past year, the SEC has actively responded to President Trump's goal of "making America the world's crypto capital" and is taking historic steps to modernize rules and regulations to promote the market's migration to on-chain.

The Hyper Foundation announced that it will provide approximately $10 million in grants to developers affected by the USDH exit, to cover migration costs and support an orderly transition of the ecosystem. This round of funding will be allocated to affected HIP-1 spot deployers, HIP-3 perpetual contract deployers, HyperEVM protocol, USDH:USDC cross-chain bridge, and other ecosystem participants.Among them, migration grants are aimed at teams migrating USDH-related markets or deployments to USDC; while exit grants are for projects that choose to terminate USDH-related businesses, with amounts lower than equivalent migration plans, to encourage a smooth conclusion of the ecosystem. HIP-1 and HIP-3 grants are based on auction deployment cost estimates, while HyperEVM grants are assessed based on the scale of USDH TVL affected. All beneficiaries must complete migration or business closure by the end of July.On the user side, USDH holders need to operate according to the guidelines of each protocol and can complete the exchange to USDC through the spot market or HyperEVM path. The official has provided support for asset conversion with no fees or spot trading channels. The Hyper Foundation also stated that the USDH migration is progressing smoothly, thanks to the active cooperation of developers and the community, and expressed gratitude to the relevant builders.

The global real-world asset (RWA) tokenization market has exceeded $43 billion, growing approximately 37% over the past 180 days, indicating that institutional funds are continuously accelerating their migration to blockchain infrastructure.The report points out that this growth has occurred against the backdrop of a relatively weak overall cryptocurrency market, with the expansion of on-chain financial assets primarily driven by traditional financial products being tokenized, covering various asset classes such as funds, private credit, commodities, and stocks. In the current market structure, tokenized funds dominate, accounting for about 80% of the total market capitalization; commodity assets account for 16.6%, and tokenized stocks account for approximately 3.8%.In terms of chain distribution, Ethereum remains the core hosting network, accounting for 57.8%, while networks such as BNB Chain, zkSync Era, XRP Ledger, and Stellar are gradually expanding their shares. In terms of issuers, Sky ranks first with a scale of approximately $6.1 billion, followed closely by Securitize and Ondo Finance, each with about $3.6 billion.At the institutional level, investment banks such as Standard Chartered and Citigroup have recently released reports optimistic about the long-term growth path of tokenized assets. Citigroup predicts that this market will reach $5.5 trillion by 2030 under a baseline scenario, and could reach $8.2 trillion in an optimistic scenario, believing that regulatory clarity and the participation of infrastructures like DTCC and Nasdaq will become key driving factors.Analysts believe that RWA tokenization is gradually evolving from an early structure primarily focused on government bonds to a diversified income asset system.

According to Bitcoin Magazine, El Salvador is continuously optimizing its immigration system to attract high-net-worth foreign talent and capital (including families). According to Decree No. 531, effective March 31, 2026, the residency requirement for temporary residents has been reduced from a mandatory stay of 9 months per year to a cumulative or continuous stay of only 90 days per year. This adjustment is primarily aimed at entrepreneurs, investors, and remote workers who need to frequently cross borders.El Salvador offers one of the most attractive tax systems in Latin America for individuals with foreign-source income. The country implements a territorial tax system, meaning that only income generated within El Salvador is subject to taxation. A significant income tax reform in 2024 further clarifies that both residents and non-residents can be exempt from income tax on their foreign-source income. This means freelancers, remote workers (such as content creators, developers, and entrepreneurs with foreign income) can enjoy a 0% income tax rate in El Salvador on their overseas income, with no limits on the amount.Additionally, under the country's laws, capital gains related to Bitcoin are not taxed, and the country does not impose wealth tax, inheritance tax, or gift tax. The real focus is whether the individual's country of origin recognizes this arrangement; because most countries typically do not easily relinquish their taxing rights over their tax residents and often conduct strict scrutiny and recovery on tax residency issues.

The advisory committee of cryptographic experts led by Coinbase has released a report stating that Bitcoin should immediately begin preparing for potential quantum computing attacks. However, the committee did not take a clear stance on whether to freeze the millions of Bitcoins that could potentially be stolen by quantum computing in the future.It is reported that the committee members include several leading experts, such as Ethereum Foundation researcher Justin Drake, who believe that the current focus of the debate is not on how to introduce quantum-resistant signature technology, but rather on how to handle the Bitcoins that have not been migrated for a long time. One viewpoint calls for setting a deadline, after which the existing ECDSA and Schnorr signature schemes for Bitcoin will cease to be supported, and un-migrated assets will be frozen to prevent future quantum attackers from acquiring large amounts of BTC and impacting the market. Another viewpoint argues that this amounts to asset confiscation, contradicting Bitcoin's core principles of "immutability and user complete control of assets," and could set a precedent for freezing assets in the future due to regulatory pressure.The Coinbase advisory committee pointed out that the aforementioned proposals are not mutually exclusive and can be combined, but it refused to take a position on the issue of "whether to freeze legacy BTC," believing that the final decision should be governed by the Bitcoin community. At the same time, it emphasized two points: first, the technical development of quantum-resistant signature migration should be initiated immediately and should not wait for the governance debate to conclude; second, it is necessary to clearly communicate risk information to users to avoid long-term uncertainty affecting the Bitcoin ecosystem.

According to Decrypt, the Coinbase Quantum Advisory Board released a report calling for blockchain developers to immediately begin preparations for quantum migration, warning that unresolved issues with abandoned and vulnerable tokens could become one of the biggest challenges for Bitcoin.The report estimates that approximately 7 million Bitcoins are vulnerable to future quantum attacks due to public key exposure and address reuse. Although there are currently no quantum computers capable of breaking blockchain encryption, the likelihood of relevant quantum computers emerging as early as 2030 is high.The report proposes three handling options for tokens that have not migrated to quantum-safe addresses: permanently freeze or destroy them after a set deadline; take no action and let users decide; or adopt a compromise measure, such as limiting the number of vulnerable tokens that can be moved per block, or allowing users to pre-commit to migration.The Ethereum Foundation has formed a team to coordinate the post-quantum security transition, and Vitalik Buterin developed a quantum upgrade roadmap in February. The Stellar Development Foundation announced a roadmap for user migration to quantum-safe encryption on Tuesday.

According to PYMNTS, the comment period for the implementation rules of the GENIUS Act by the Federal Deposit Insurance Corporation (FDIC) ended on June 9. The proposal clearly states that payment stablecoins themselves do not qualify as deposits insured by the FDIC, and stablecoin holders do not enjoy pass-through deposit insurance. Industry feedback indicates significant disagreements in the payment sector.Traditional institutions such as banks strongly oppose incentives like yields, rewards, or cashback offered by stablecoins, arguing that this would attract deposits away from banks, harming local lending capacity, and calling for a clear prohibition on any form of compensation within the stablecoin ecosystem; the International Organization for Standardization (ISO) technical committee suggested that the FDIC require the adoption of machine-readable reporting formats and Legal Entity Identifiers (LEI) to enhance transparency, regulatory information sharing, and data quality.

According to The Defiant, Binance announced that it will officially stop centralized NFT market services starting from July 3, 2026, and all NFT functions will be migrated to the self-custody Binance Wallet.This move marks a near-complete retreat of NFT markets supported by centralized exchanges (CEX). Previously, platforms such as Coinbase NFT, Kraken NFT, Gemini Nifty Gateway, and X2Y2 have successively closed or transformed.Binance stated that this adjustment aims to provide users with a more seamless Web3 NFT experience. Users must withdraw transferable NFTs to Binance Wallet or other self-custody wallets by July 3 at 23:59 (UTC), and the platform will reimburse part of the withdrawal fees.

According to The Defiant, Ethereum researchers Thomas Coratger, Justin Drake, and others released a proposal on June 1 at the Ethereum research forum, planning to establish a dedicated XMSS public key registry as the first concrete protocol upgrade for Ethereum's migration to post-quantum cryptography.This registry allows approximately 1 million validators to pre-register quantum-safe XMSS keys before the full switch to the BLS signature system, serving as an important "preheating phase" to reduce the impact of the subsequent switch on network stability. This proposal has been included in the Ethereum Foundation's protocol team's Strawmap roadmap, marking the first protocol fork on that roadmap.

Binance is expected to suspend the token deposit and withdrawal services for Sei (SEI) network on June 1 at 16:00 to support its migration to the SEIEVM network. After the migration is completed, Sei (SEI) tokens will only support deposits and withdrawals through the SEIEVM network.

On May 14, BNB Chain released the "BSC Post-Quantum Cryptography Migration Report," stating that it has completed the migration testing for quantum-resistant cryptography for transaction signatures and the consensus layer, using the NIST standardized post-quantum signature algorithm ML-DSA-44 (Dilithium) and the pqSTARK aggregation scheme.The report shows that BSC has replaced transaction signatures from ECDSA to ML-DSA-44 and switched consensus voting aggregation from BLS12-381 to pqSTARK to address the potential threats posed by future quantum computing to the existing elliptic curve cryptography system. However, post-quantum signatures also significantly increase the on-chain data volume: the size of a single transaction has increased from about 110 bytes to approximately 2.5KB; the block size in a 2000 TPS scenario has increased from about 130KB to around 2MB; and the TPS in the testing environment has decreased by about 40%-50%.BSC stated that the current network bottleneck mainly comes from the larger transaction data propagation, rather than the consensus protocol itself. Meanwhile, the consensus layer aggregation still maintains high efficiency, with pqSTARK achieving a signature compression ratio of about 43:1, and the additional burden on validators remains within a controllable range. The report concludes that existing technology can achieve "quantum-resistant" deployment for blockchain, but future issues related to network bandwidth and data scalability still need to be addressed.

On May 9 and 10, the Chainlink network recorded 282,170 and 264,090 unique active LINK addresses, respectively, the highest levels since September 2025. The surge in on-chain activity comes against the backdrop of several institutional-grade DeFi projects announcing their migration of cross-chain infrastructure to Chainlink CCIP. On May 7, Solv Protocol announced the completion of a security review following the April Kelp DAO vulnerability incident and decided to migrate over $700 million in tokenized Bitcoin assets (SolvBTC and xSolvBTC) from LayerZero to Chainlink CCIP.Previously, Kelp DAO had also announced the migration of its rsETH infrastructure to Chainlink CCIP. These initiatives represent a significant shift of institutional-grade DeFi infrastructure from LayerZero to the Chainlink cross-chain ecosystem. Additionally, earlier this month, data showed that whale wallets holding between 100,000 and 10 million LINK increased their holdings by 32.93 million LINK within 30 days.

According to the CatcherPredict channel, the prediction market Predict.fun has launched the prediction event "Which blockchain will Polymarket migrate to in 2026?" with a total transaction volume reaching $1.701 million.Among them, the probability of "new Polymarket chain" migration is currently reported at 67%; the probability of "not migrating in 2026" is currently reported at 26%; the probability for Arbitrum is currently reported at 2%; and the probabilities for Avalanche, Base, MegaETH, Monad, Solana, BNB Chain, and other chains are currently reported at 1%.The settlement source for this event is the official announcement of the migration from Polymarket (press release, Shayne Coplan, or official X account), non-test transactions occurring on the new chain, and the underlying L1 not being Polygon. If the migration is not completed by December 31, 2026, at 23:59 (ET), the resolution will be "not migrating in 2026."

Nic Carter, a partner at Castle Island Ventures, published a lengthy article on the X platform pointing out that the quantum computing "canary warning" mechanism cannot provide sufficient buffer time for BTC. Classical computers can currently crack approximately 117 to 130 bits of the Elliptic Curve Discrete Logarithm Problem (ECDLP), and results below this threshold are often questioned for "classical cheating" or pre-set answers, thus failing to form an effective signal.Nic Carter believes that once quantum computers truly break this classical limit, the time left for a direct attack on the 256-bit secp256k1 curve used by Bitcoin may only be a matter of months, while the migration to post-quantum (PQ) signatures after Bitcoin's completion could take years. Whether setting up quantum cracking bounty addresses or relying on Satoshi's early dormant addresses as on-chain warnings cannot guarantee sufficient early detection of risks. Therefore, the truly feasible approach is not to wait for clear warnings but to immediately begin preparations for post-quantum migration. Previously, BitMEX Research proposed a quantum freeze alternative: the "canary address" trigger mechanism.