Datachain Begins Joint Study on 'Fully On-Chain Digital Securities Utilizing Stablecoins' and Joins the Working Group
March 6, 2025
Datachain to Participate in the "Fully On-Chain Security Token (ST) Working Group" Established by the Digital Asset Co-Creation Consortium, Hosted by Progmat, Inc.
Datachain Inc. (CEO: Tetsushi Hisata, hereinafter "Datachain") is pleased to announce its participation in the "Fully On-Chain Security Token (ST) Working Group" (hereinafter "the WG"), which has been established by the Digital Asset Co-Creation Consortium, hosted by Progmat, Inc. (CEO: Tatsuya Saito, hereinafter "Progmat").
The purpose of this WG is to maximize the benefits of security tokenization by combining stablecoins with security tokens. This approach aims to enable not only securities transactions but also interest payments and settlements to be completed entirely on-chain—directly on the blockchain.
To date, Datachain has collaborated with Progmat in the field of stablecoins (*1), contributing to the development of stablecoins issued through “Progmat Coin,” the stablecoin issuance and management platform provided by Progmat. Datachain has also been driving product development and business development for Project Pax (*2), an international remittance project utilizing stablecoins.
Stablecoins are expected to play a critical role in the tokenization of various assets, enabling them to be traded on blockchain platforms. In fact, the combination of stablecoins and security tokens has already become increasingly common, particularly in the United States.
For example, BUIDL, the BlackRock USD Institutional Digital Liquidity Fund managed by BlackRock, is advancing the concept by offering transparency through public blockchain disclosures, daily on-chain interest payments, and multiple daily redemption opportunities. Furthermore, the trend continues to accelerate with the emergence of USYC (US Yield Coin), the world’s largest tokenized money market fund. Hashnote, the issuer of USYC, was recently acquired by Circle, the issuer of the US dollar-pegged stablecoin USDC (USD Coin), further enabling 24/7 asset and liquidity availability, as well as real-time conversion. This global shift toward fully on-chain solutions combining security tokens and stablecoins is expected to continue.
In light of these global developments, Datachain will continue to expand its product offerings—focusing not only on payment solutions leveraging stablecoins for international remittances but also exploring new applications by combining security tokens with stablecoins. Through these initiatives, Datachain aims to drive innovation in financial services and deliver new value to the market.
For further details regarding the "Fully On-Chain Security Token (ST) Working Group," please refer to the following press release from Progmat:
Commencement of Joint Study on "Fully On-Chain Digital Securities Utilizing Stablecoins"
(Announced by Progmat, Inc. on March 4, 2025)
https://progmat.co.jp/news/2025-03-04-press/
Please note that the linked press release is available in Japanese only.
*2: https://www.datachain.jp/ja/news/progmat-and-datachain-launch-project-pax