Aptos Taps Microsoft, Brevan Howard and SK Telecom to Build DeFi Platform for Institutions

Aptos Ascend, a digital asset management platform targeting financial institutions will be powered by Micrososft Azure.
Image source: Aptos/Medium

Quick take:

  • The platform will leverage Bervan Howard’s financial markets expertise and experience to guide institutions in the digital asset space.
  • The company is also collaborating with Boston Consulting Group to help implement the solutions.
  • The companies hope to globally grow tokenised asset liquidity with Aptos Ascend.

Aptos Labs has teamed up with some of the leading technology and finance companies including Microsoft, Brevan Howard, SK Telecom and Boston Consulting Group to build Aptos Ascend, a digital asset management platform targeting financial institutions. 

The layer-1 blockchain company joins a growing list of L1s that have tapped mainstream organisations to develop digital asset platforms for institutions. Aptos said its plans for Aptos Ascend are to help institutions expand their services to decentralised finance and globally grow tokenised asset liquidity.

Aptos Ascend will leverage technologies and expertise from all parties to provide a suite of tools and solutions that will guide financial institutions in expanding their services to the digital asset space.

According to the announcement, the platform will be powered by Microsoft Azure and Azure OpenAI Service, SK Telecom’s Web3 infrastructure for Wallet-as-a-Service and Brevan Howard’s financial markets expertise. Boston Consulting Group will play a key role in the implementation of the solutions, Aptos said in a press release.

Commenting on the partnership, Aptos Labs co-founder and CEO Mo Shaikh said in a statement: “Global institutions require superior levels of compliance, security, trust, and innovation to service customers, operate across borders, and adhere to regulations at every level.”

“In collaboration with SK Telecom, 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,” added Shaikh.

In December, Aptos collaborated with SK Telecom and Atomrigs to develop a self-custody Web3 wallet. Last August the layer-1 blockchain infrastructure provider said it was teaming up with Microsoft to advance its digital payments, pounce on tokenisation opportunities and the intersection of AI and Web3.

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