DeFi
Aptos Labs enters into DeFi partnership with Microsoft, Brevan Howard and SK Telecom
Aptos Labs, the developers behind the Aptos layer 1 blockchain, said they are collaborating with Microsoft, Brevan Howard and South Korean wireless carrier SK Telecom to offer institutions a gateway to decentralized finance.
The partnership will offer Aptos Ascend, a suite of end-to-end institutional solutions such as support for regulatory requirements, tools to maintain account and transaction confidentiality, and integrated capabilities for know-your-customer (KYC) checks.
This comes as a number of layer 1s attempt to bridge the gap between DeFi and large institutions. avalanche, CLOSE and others have all announced collaborations between companies to try to speed up this process.
Microsoft Azure and Azure OpenAI services will be used to deliver the financial suite, according to a press release.
Brevan Howard’s involvement will include leveraging his industry leadership and expertise to develop potential opportunities for institutions to provide digital asset management services or offerings to their clients, the release said. Boston Consulting Group will help implement the solutions.
“Together with SKT, Brevan Howard and Microsoft, Aptos Ascend will provide leading financial institutions, banks and money markets around the world with a high-performance, compliant, secure and scalable gateway to decentralized finance on Aptos that will evolve over time. to come,” said Mo Shaikh, co-founder and CEO of Aptos Labs.
The company said in August, Aptos leveraged Microsoft’s infrastructure to roll out new offerings combining AI and blockchain technology, including a new chatbot called Aptos Assistant.
Aptos Labs was founded by former Meta employees.