Institutions-focused Decentralized Finance (DeFi) platform being developed by Aptos in collaboration with Microsoft, Brevan Howard, and SK Telecom.
Aptos Labs, a layer-1 blockchain company, is joining forces with other leading layer-1s to develop digital asset platforms for institutions. The collaboration, aimed at globally growing tokenized asset liquidity, is centred around Aptos Ascend.
Aptos Ascend, a digital asset management platform targeting financial institutions, will be powered by a formidable alliance. Microsoft Azure and Azure OpenAI Service, SK Telecom's Web3 infrastructure for Wallet-as-a-Service, Brevan Howard's financial markets expertise, and Boston Consulting Group's implementation solutions will all contribute to the project.
The Financial Conduct Authority (FCA) has announced its collaboration with these companies to develop the digital securities management system Aptos Ascend. The platform aims to help institutions expand their services to decentralized finance and globally grow tokenized asset liquidity.
In a press release, Aptos Labs co-founder and CEO Mo Shaikh commented that global institutions require superior levels of compliance, security, trust, and innovation to service customers, operate across borders, and adhere to regulations at every level.
This collaboration is not the first for Aptos Labs. In December, the company collaborated with SK Telecom and Atomrigs to develop a self-custody Web3 wallet. Last August, Aptos announced a collaboration with Microsoft to advance digital payments, tokenization opportunities, and the intersection of AI and Web3.
Aptos Ascend is expected to evolve for years to come, according to Mo Shaikh. The platform will provide a suite of tools and solutions to guide financial institutions in expanding their services to the digital asset space. It will also offer a performant, compliant, secure, and scalable gateway to decentralized finance on Aptos.
Boston Consulting Group will play a key role in the implementation of solutions on Aptos Ascend. The new development in the digital asset management space is set to aid financial institutions in navigating the complexities of the decentralized finance sector.
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