Aptos Labs, the developer of the Aptos Network, has finalized an agreement to purchase HashPalette, a Japanese non-fungible token (NFT) service provider, in a strategic move to broaden its reach in Asia. On October 3, HashPalette disclosed its decision to transition into a fully-owned subsidiary of Aptos Labs following a deal with its previous owner, HashPort. As part of the acquisition, the Palette Chain blockchain and current HashPalette applications will be transferred to the Aptos Network. Aptos Labs views the HashPalette acquisition as crucial for its expansion into Asian markets. The company intends to leverage HashPalette's connections with Japanese businesses to engage with prominent companies in Japan and support local Web3 participants, such as developers, NFT creators, and enterprises. Meanwhile, HashPort will continue serving its corporate clients using Aptos Network's infrastructure. Additionally, Aptos' layer-1 blockchain will host the Franklin OnChain US Government Money Fund (FOBXX) after a collaboration between Aptos Foundation and Franklin Templeton, making FOBXX the first US-registered mutual fund to utilize blockchain technology on the Stellar network for transaction processing and share ownership recording. Read more AI-generated news on: https://app.chaingpt.org/news