Tokenize PGR via API
Progressive Corp. as a 1:1-backed onchain ERC-20. Mint, redeem, and post as collateral with one SDK call. Mint and redeem are asynchronous via an on-chain order_id; the terminal action lands via settle(order_id) on the broker-dealer cycle (T+1).
What Flo supports for PGR
Three primitives, one API key. PGRflows through the same path as the rest of Flo's tokenized equities universe.
Mint PGR →
Create tokenized PGR from stablecoin payment. Onchain delivery is instant; the broker buys the underlying Progressive Corp. share at NYSE during market hours.
Redeem PGR →
Burn tokenized PGR and receive stablecoin. Flo Capital SPC sells the underlying Progressive Corp. share at the broker-dealer; your user gets stablecoin instantly.
Borrow against PGR →
Post tokenized PGR as collateral and borrow USDC/USDT up to 70% LTV. Liquidations route through the same broker pipe.
Mint tokenized PGR in one call
The same shape works for every ticker in the universe, swap the symbol and you're done.
// Mint tokenized PGR (Progressive Corp.) — notional-in default
const mint = await flo.mint({
asset: "PGR",
notional_usdc: "1000.00", // pay-in. SDK derives min_quantity from quote * (1 + slippage_bps).
slippage_bps: 50, // 0.50%. Default if omitted.
settlement: {
currency: "USDC", // per-chain accepted set in /v1/chains
chain: 8453, // Base. EIP-155 integer chain ID.
wallet: userWalletAddress,
},
gas: { sponsor: "developer" },
});
// mint.status is "active" with mint.order_id set on chain (or "queued" out-of-session).
// PGR ERC-20 tokens land via settle(order_id) once the broker leg confirms.
// Flo Capital SPC holds the underlying Progressive Corp. shares at the broker-dealer, 1:1.Comparable assets via Flo
Other financials and NYSE names supported by the same API.
PGR on Flo, common questions
Can I tokenize PGR via Flo?
Yes. PGR (Progressive Corp.) is part of Flo's tokenized equities universe. A POST to /v1/mint with asset=PGR and a notional_usdc amount returns a tokenized PGR ERC-20 1:1-backed by Progressive Corp. shares held at a SEC-registered broker-dealer (IB + Alpaca).
How is tokenized PGR backed?
Each onchain PGR token is backed 1:1 by a Progressive Corp. share held by Flo Capital SPC (Cayman), a bankruptcy-remote Segregated Portfolio Company, in segregated brokerage accounts at Flo's SEC-registered broker-dealers. Reserves are attested daily and published on /transparency/proof-of-reserves.
What is the settlement window for PGR?
Mint and redeem are asynchronous via an on-chain order_id. The create-order tx is atomic; the terminal action (live token mint or stablecoin payout) lands via settle(order_id) on the broker-dealer cycle. NYSE settles T+1 in USD, so the broker leg for PGR clears on that cycle.
Can I borrow stablecoins against PGR?
Yes. Tokenized PGR is collateral-eligible in the Flo borrow product as a large-cap equity, with a three-margin model — initial 70% (max LTV at open), maintenance 75% (alerts begin via borrow.maintenance_breach), liquidation 78% (keepers auto-close on a 30-second TWAP, no grace window). APR is a floating rate set by the pool's utilization curve (kinks at 75% and 90%). See /docs#borrow-overview for the full state machine.
Which chains is PGR deployed on?
Tokenized PGR is deployable on Base, Arbitrum, Ethereum. Pass the EIP-155 integer chain ID on the settlement object (8453 for Base, 42161 for Arbitrum, 1 for Ethereum). String slugs are not accepted on input; see /docs#rest-chains.
Ship tokenized PGR to your users
Mint, redeem, sandbox, and webhooks are free. No setup fee, no monthly minimum, no annual contract. Get an API key and mint your first tokenized PGR in minutes.