Aptos Labs Partners with Microsoft and SK Telecom for Institutional Platform Development

Blockchain infrastructure developer Aptos Labs has partnered with major technology and financial firms to create the institutional platform Aptos Ascend.

Speed. Security. Industry-grade performance ready for market growth.

With #AptosAscend, it’s easier than ever for institutions across DeFi and TradFi to join the open finance revolution on Aptos.

Congratulations to @AptosLabs for bringing together @Microsoft, @SKtelecom, Brevan… https://t.co/G2yBDG2MaI

— Aptos (@Aptos) April 18, 2024

The new service will be based on Microsoft Azure, utilizing the large language model Azure OpenAI Service. Aptos Ascend will also leverage the expertise of investment firm Brevan Howard to advise financial institutions offering digital asset management services to clients. Additionally, SK Telecom’s Web3 technologies, including wallet-as-a-service features, are expected to be employed.

Aptos Labs has also engaged Boston Consulting Group as a consulting partner. The institutional platform aims to popularize decentralized finance among large investors using the Aptos network. One of the key objectives is to increase the liquidity of tokenized assets on a global scale.

“Global institutions require high levels of compliance, security, trust, and innovation to serve clients, conduct business across borders, and meet regulatory requirements at every level,” said Mo Shaikh, co-founder and CEO of Aptos Labs. “In collaboration with SK Telecom, Brevan Howard, and Microsoft, Aptos Ascend will provide financial institutions, banks, and leading money markets worldwide with performant, compliant, secure, and scalable access to decentralized finance on Aptos, which will evolve over the years.”

Aptos began its collaboration with Microsoft to implement Web3 solutions in the middle of last year.

In late March, the price of APT surpassed $18, approaching an all-time high.

In February, Aptos Foundation, in partnership with Jambo Technology, launched a Web3 smartphone for emerging markets.