Aptos partners with Microsoft, Brevan Howard to build institutional platform ‘Aptos Ascend’

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Written on Apr 18, 2024

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Aptos Labs has partnered with Microsoft, Brevan Howard and other firms to build a new platform for DeFi.
Aptos Ascend will target institutional adoption of decentralised finace.
Other platforms collaborating with Aptos are SK Telecom and Boston Consulting Group.

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Aptos Labs has struck a partnership with multiple mainstream companies as it looks to position the Aptos blockchain for greater DeFi adoption.

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Aptos partners Microsoft, top firms

The collaboration involves tech giant Microsoft, digital assets arm of global macro investment firm Brevan Howard, Korea’s leading AI company SK Telecom and management consulting firm Boston Consulting Group (BCG).

Together, Aptos Labs and partners will develop “Aptos Ascend”, an new platform aimed at bolstering decentralized finance for institutions. The new platform will leverage the technology and expertise behind the Aptos network.

“Aptos Ascend will help unlock the onchain use cases financial institutions have been waiting for. This is only the beginning of the financial revolution and we’re excited to share the future pioneers that will be leveraging the Aptos Ascend suite,” Mo Shaikh, the co-founder and CEO of Aptos Labs said in a post on X.

Per an update the company shared on Thursday, Aptos Ascend is set to leverage Microsoft’s Azure OpenAI service. The platform will also be powered by SK Telecom innovation, including the company’s wallet-as-a-service offering.

Aptos Ascend will offer institutional access to advanced Digital Asset Controls, with major institutions across the globe able to tap into customizable tokens, approved-only transactions and zero-knowledge (ZK) proofs.

Features such as speed, security and industry-grade performance are also key to Aptos Ascend’s suite. Institutions will leverage these to bridge the gap between DeFi and TradFi amid crypto industry’s ongoing adoption curve.