Aptos Labs has entered into a new partnership with Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group to develop Aptos Ascend. The institutional platform aims to spread decentralized finance to institutional capital through the Aptos Network and increase tokenized asset liquidity globally, among other things.
Blockchain infrastructure developer Aptos Labs has entered into partnerships with major tech and financial companies to build its Aptos Ascend.
Aptos Ascend is a digital asset management platform for financial institutions. The product will use cloud computing platform Microsoft Azure, as well as Azure OpenAI services, a large language model that can support generative AI applications. According to a press release shared with The Block, Aptos Ascend will also leverage Brevan Howard’s market investment expertise to guide financial institutions in providing digital currency and asset management services to customers, as well as SK Telecom’s web3 technology, such as wallet-as-a-service capabilities.
Aptos Labs has also hired Boston Consulting Group, which has global revenues of $12.3 billion in 2023, as its consulting partner. The release continues with the institutional platform, which aims to spread decentralized finance to institutional capital through the Aptos Network and increase tokenized asset liquidity globally, among other things.
“Global institutions require superior compliance, security, trust, and innovation to serve their customers, operate across borders, and comply with regulations at every level,” said Mo Shaikh, co-founder and CEO of Aptos Labs, in a statement.
By partnering with SK Telecom, Brevan Howard, and Microsoft, Aptos Ascend will provide a high-performance, compliant, secure, and scalable Aptos decentralized finance gateway to global financial institutions, banks, and technology-forward money markets for years to come.
Aptos Labs also partnered with Microsoft in August 2023 to further develop digital payments, tokenization, and the intersection of AI and web3.
Aptos Labs Founder
Aptos Labs co-founder and CTO Avery Ching is based in Palo Alto, California, and was previously the chief software engineer at Meta Novi, a now-shuttered digital wallet platform.
According to his LinkedIn profile, Shaikh also works for Novi on strategic partnerships at Meta.
According to The Block’s APT price page, the company’s native token APT was trading at $9.19 at 5pm EST on April 17, after gaining 1.14% in the previous 24 hours. It is the 26th-ranked cryptocurrency with a market cap of $3.9 billion
