KennedyX teams with Progmat and Datachain to enable instant stablecoin settlement of security tokens

Real estate investment firm KennedyX announced a partnership with blockchain‑technology providers Progmat and Datachain to create a platform that allows investors to exchange security tokens (ST) and stablecoins in a single, simultaneous transaction. The proof‑of‑concept demonstrated a delivery‑versus‑payment (DvP) workflow on the Avalanche public blockchain, using a trust‑based stablecoin format outlined by Mitsui Sumitomo Financial Group. The system bypasses traditional securities intermediaries, transferring the token and the payment at the same time, which could cut settlement times from days to seconds.

The collaborators plan a second phase to test collateralised lending, where holders of real‑estate‑backed ST could borrow funds against their tokens using stablecoins. Commercial rollout is targeted for evaluation by 2026, with future support for Japanese yen‑denominated stablecoins JPYC/JPYSC and the US‑dollar stablecoin USDC. The initiative aims to extend tokenisation beyond real estate to assets such as aircraft and vessels, adding financial functions to Japan’s emerging real‑world‑asset token market.