Aptos Labs, known for the Aptos layer-1 blockchain, is joining forces with tech giant Microsoft, investment firm Brevan Howard, and SK Telecom, a leading South Korean telecom operator, to facilitate institutional access to decentralized finance (DeFi).
Creating Institutional Gateways to DeFi
The collaboration aims to introduce Aptos Ascend, a comprehensive suite of solutions tailored for institutions. This initiative will support regulatory compliance, enhance transactional privacy, and incorporate necessary tools for Know Your Customer (KYC) protocols. These efforts are part of a broader movement within the blockchain industry to bridge DeFi services with the needs of large institutions, similar to endeavors by other layer-1 projects like Avalanche and NEAR.
Leveraging Expertise Across Sectors
This partnership will utilize Microsoft’s Azure and Azure OpenAI services to power the financial suite, ensuring a robust infrastructure for the offerings. Brevan Howard will contribute its expertise in asset management to explore new digital asset opportunities for institutional clients. Additionally, Boston Consulting Group is slated to assist in implementing these solutions effectively.
Mo Shaikh, co-founder and CEO of Aptos Labs, emphasized the significance of this partnership, stating, “In collaboration with SKT, Brevan Howard, and Microsoft, Aptos Ascend will provide a high-performance, compliant, and secure gateway for the world’s financial institutions, banks, and tech-forward money markets to tap into decentralized finance on our platform.”
The collaboration also includes ongoing projects that integrate AI with blockchain technology, such as the newly introduced Aptos Assistant chatbot, leveraging Microsoft’s infrastructure.
