TL;DR
- Strategic Collaboration: Aptos Labs has partnered with Microsoft, Brevan Howard, and SK Telecom to launch Aptos Ascend, a suite of institutional DeFi solutions aimed at the global financial market.
- Platform Features: The platform will offer a permissioned network, Digital Asset Controls, KYC checks, and tools for privacy and regulatory compliance, leveraging the Aptos blockchain.
- Consulting and Technology: Boston Consulting Group (BCG) is the top consulting partner, and Aptos Labs plans to use Microsoft Azure and Azure OpenAI services to enhance its financial products with AI and blockchain technology.
Aptos Labs has announced a strategic collaboration with Microsoft, Brevan Howard, and SK Telecom. The partnership aims to deliver Aptos Ascend, a suite of end-to-end institutional solutions, to the global financial market. Aptos Ascend will provide a permissioned network and Digital Asset Controls powered by SK Telecom’s Wallet-as-a-Service product, leveraging the scalable and secure Aptos blockchain.
The platform will also offer regulatory requirement assistance, tools to maintain account and transaction privacy, and embedded features for know-your-customer (KYC) checks.
The collaboration will tap into Brevan Howard’s industry leadership and expertise to develop a seamless path for major banks and financial institutions to begin offering digital currency and managing their clients’ assets responsibly and at scale.
Boston Consulting Group (BCG) has been chosen as Aptos Labs’ top consulting partner. BCG will use its extensive knowledge in decentralized finance (DeFi), digital assets, and AI to collaborate with companies in implementing solutions.
Aptos Labs Leverages Microsoft Azure and Azure OpenAI Services
“In collaboration with SKT, Brevan Howard, and Microsoft, Aptos Ascend will provide the world’s financial institutions, banks, and tech-forward money markets with a performant, compliant, secure, and scalable gateway to decentralized finance on Aptos that will evolve for years to come,” said Mo Shaikh, co-founder and CEO of Aptos Labs.
Aptos has announced its intention to use Microsoft Azure and Azure OpenAI services for its financial suite products. They aim to harness the power of Microsoft’s infrastructure to roll out innovative solutions that incorporate AI and blockchain technology. This includes the recently launched chatbot, referred to as the Aptos Assistant.
At the time of writing, the firm’s native token APT is trading at around $9.37 marking a nearly 3% increase in the last 24 hours, according to CoinMarketCap. With a market cap of $3.9B, APT it’s the 24th highest-ranked cryptocurrency.
This partnership underscores the growing trend of tokenization in traditional finance and the potential for innovation in the future financial market. It marks a significant step towards bridging the gap between DeFi and large institutions, setting a strong model for future collaborations in the industry.
