Blockchain infrastructure developer Aptos Labs has partnered with major technology and financial companies to build Aptos Ascend.
Aptos Ascendis a digital asset management platform for financial institutions. The product will use Microsoft Azure, a cloud computing platform, as well as the Azure OpenAI service, a large-scale language model that can underpin generative AI applications. According to a press release shared with The Block, Aptos Ascend will also utilize Brevan Howard's market investment expertise to guide financial institutions in providing digital currency and asset management services to their clients, as well as SK Telecom's web3 technologies, such as wallet-as-a-service capabilities.
Aptos Labs has also retained The Boston Consulting Group as its consulting partner for the company's 2023 global revenues, which are expected to reach$12.3 billionThe Aptos Network. The institutional platform intends to extend decentralized finance to institutional capital through the Aptos network and enhance the liquidity of tokenized assets globally, among other things.
"Global institutions need superior levels of compliance, security, trust and innovation to serve their customers, operate across borders and comply with regulations at every level," said Mo Shaikh, co-founder and CEO of Aptos Labs, in a statement. "By partnering with SK Telecom, Brevan Howard and Microsoft, Aptos Ascend will provide global financial institutions, banks and technology-leading money markets with a high-performance, compliant, secure and scalable Aptos decentralized financial gateway that will evolve over the coming years ".
Aptos Labs also partnered with Microsoft in August 2023 with the aim of further developing digital payments, tokenization, and the intersection of AI and web3.
Founder of Aptos Labs
Co-founder and CEO of Aptos LabsMo ShaikhHe has worked at BlackRock and Royal Bank of Canada, BCG management consulting, and in the blockchain space, as a consultant to the World Economic Forum, and as CEO of Consensys-backed Meridio before joining Meta's blockchain team.The
Co-founder and CTO of Aptos LabsAvery Ching, has extensive experience and expertise in the blockchain space. He worked at Meta Platform Inc. (now renamed Meta) on the Diem and Novi projects as the Lead Software Engineer for Meta Novi, which provided an important technical foundation for the creation of Aptos. After leaving Meta, he joined other former colleagues to create Aptos Labs, a startup that aims to realize the vision of delivering a secure, scalable and production-ready blockchain.
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