Aptos Labs Partner with Industry Giants to Launch Institutional Platform Aptos Ascend

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Aptos Lab, a leading blockchain infrastructure developer, has announced groundbreaking partnerships with major tech and finance firms, including Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group. These collaborations mark a significant step in the development of Aptos Ascend, an institutional platform aimed at revolutionizing digital asset management for financial institutions.

INTEL: Aptos Labs collaborates with Microsoft, Brevan Howard and SK Telecom to build out institutional platform Aptos Ascend

— Solid Intel (@solidintel_x) April 18, 2024

Partnerships for Innovation

The collaboration brings together the expertise of Microsoft Azure, a leading cloud computing platform, and Azure OpenAI Service, enabling Aptos Ascend to utilize generative AI applications. 

However, Brevan Howard’s market investment insights will guide financial institutions in offering digital currency and asset management services, while SK Telecom’s web3 technology, including wallet-as-a-service functionalities, will enhance the platform’s capabilities.

Where else, Aptos Labs has enlisted Boston Consulting Group as its consulting partner to ensure the successful implementation and adoption of Aptos Ascend. With a focus on compliance, security, and innovation, Aptos Ascend aims to address the growing demand for DeFi solutions among institutional investors and expand tokenized asset liquidity on a global scale.

Empowering Financial Institutions

Mo Shaikh, co-founder and CEO of Aptos Labs, emphasized the importance of collaboration in driving innovation in the financial sector. He expressed confidence that Aptos Ascend will empower financial institutions and banks to embrace decentralized finance while adhering to regulatory standards and delivering superior customer service.

Aptos (APT) Price Performance

The announcement coincides with a significant surge in activity within the Aptos network, driving a notable increase in the price of the APT token. With daily active users reaching 2.5 million, representing a 55% increase, the Aptos ecosystem demonstrates strong momentum and user engagement.

As of the latest trading data, the APT token is trading at $9.3536, with a 24-hour trading volume of $244,642,490, indicating positive market sentiment and investor confidence in the Aptos project’s potential.