TOKI achieves another milestone with the successful implementation of cross-chain swapping for Japanese Stablecoin via IBC. This advancement in TOKI's IBC-backed technology garners attention as it facilitates transfers between BNB and Ethereum chains on a public testnet. This breakthrough could signal the adoption of the protocol by Japanese financial organizations, particularly for cross-chain transfers involving stablecoins, representing a significant step forward for the cryptocurrency space.

In collaboration with Progmat, TOKI establishes a cross-chain infrastructure for issuing Japanese stablecoins, seamlessly integrating it with the Inter Blockchain Communication Protocol (IBC). The initial phase of TOKI's infrastructure rollout involves implementing the ICS 20-compliant lock and smith technique. Subsequent phases will focus on enabling cross-chain transfers from Ethereum to the BNB chain, incorporating a burn and mint system, a pivotal moment in the project's development.

Through the Inter Blockchain Communication Protocol, TOKI facilitates native token cross-chain swapping across various blockchains using the burn and mint process, similar to Circle's CCTP (Cross Chain Transmission Protocol) for USDC. TOKI plans to support Ethereum and BNB Chain initially, with intentions to expand to other networks like L2s and Noble in the near future. Additionally, TOKI will launch a Discord server optimized for IBC-enabled bridges, enhancing community engagement and feedback.

TOKI aims to enhance its products over time and is recognized as an IBC-powered cross-chain bridge, connecting popular blockchains such as Ethereum, BNB Chain, Cosmos, L2, and others. The platform offers minimal verification costs, a robust security model, and a multi-prover method, distinguishing it as a reliable cross-chain bridge solution.

The utilization of TOKI's cross-chain infrastructure enables unified liquidity and seamless transfer of stablecoins through burnt and mint processes. Progmat's platform has gained significant traction, with leading Japanese financial institutions issuing stablecoins via Progmat's platform, including plans for expansion to Ethereum and beyond. Progmat's Stablecoin has established itself as a trustworthy asset in the stablecoin market.