[NEWS] Aptos Labs partners with Microsoft and SK Telecom to provide services to financial institutions

Aptos Labs, the developer of the Layer 1 blockchain Aptos (APT), announced on the 18th that it will partner with Microsoft, investment firm Brevan Howard, South Korea's SK Telecom, and major consulting firm Boston Consulting Group to build "Aptos Ascend."

Aptos Ascend will be a solution for financial institutions that uses SK Telecom's wallet-as-a-service.

In addition, Aptos Labs explained that it will enable large-scale digital asset management by utilizing Microsoft's "Microsoft Azure" and large-scale language generation AI service "Azure OpenAI," and partnering with Boston Consulting Group.

In addition, Aptos Ascend will leverage Brevan Howard's expertise to provide digital currency and asset management services to customers.

Mo Shaikh, co-founder and CEO of Aptos Labs, said, "Global financial institutions need high levels of compliance, security, trust and innovation to serve their customers, operate across borders and comply with all levels of regulation. In partnership with SK Telecom, Brevan Howard and Microsoft, Aptos Ascend will provide global financial institutions, banks and tech-forward financial markets with a high-performance, compliant, secure and scalable gateway to decentralized finance on Aptos."

Additionally, Adrian Crockett, GM and product lead for Microsoft Cloud, said, "We see huge opportunities at the intersection of AI and distributed ledger technology, and are pleased to support the Aptos and Ascend projects as they apply these technologies to financial services."

Reference:Announcement
Image: Quoted from the announcement

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