Aptos Labs Brings Together Industry Giants Into the Web3 Space: Report

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Aptos Labs Brings Together Industry Giants Into the Web3 Space: Report
  • Aptos Labs collaborates with Microsoft, SK Telecom, and Brevan Howard to establish Aptos Ascend.
  • Aptos Ascend facilitates unparalleled transaction facilities and secure asset management services.
  • The collaboration intends to foster decentralized finance and bring together the industry giants into the Web3 world.

The blockchain platform Aptos Labs recently announced a strategic alliance with Microsoft, SK Telecom, and Brevan Howard, giving rise to Aptos Ascend. The collaboration intends to foster decentralized finance.

According to a press release, Aptos Ascend is “a suite of end-to-end institutional solutions including a permissioned network and Digital Asset Controls powered by SKT’s Wallet-as-a-Service product and the scalable, secure Aptos blockchain.”

Mo Shaikh, Co-Founder and CEO of Aptos Labs, stressed the significance of regulatory clarity, security, and innovation in global industries. Commenting on the vision of Aptos Labs’ collaboration with the industry leads, Shaikh cited,

“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.”

Reportedly, through Brevan Howard’s expertise, Aptos Ascend aims to provide financial institutions an opportunity to offer digital assets to their clients. Altogether, with the collaboration, Aptos Ascend brings together finance giants, money market platforms, fintech partners, and global investment firms into the Web3 world.

Adrian Crockett, the Head of Product at Microsoft Cloud for Financial Services, acknowledged the platform’s partnership with Aptos Labs and the establishment of Aptos Ascend as a “tremendous opportunity.” Meanwhile, Oh Se-hyeon, Vice President and Head of Web3 CO at SKT, expects the move to become a “strong model for innovation in the future financial market.”

As per the press release, Aptos Ascend is designed to facilitate “unparalleled transaction efficiency” with the Aptos blockchain. In addition, with Move smart contract language and Digital Asset Controls, the platform helps provide secure asset management and other similar privacy concerns.

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