The company that created the Aptos layer-1 blockchain, Aptos Labs, said that it is working with Brevan Howard, Microsoft, and SK Telecom, a South Korean wireless carrier, to provide institutions with an entry point into decentralized finance.Through this cooperation, Aptos Ascend—a suite of end-to-end institutional solutions—will be made available. These solutions include aid with regulatory requirements, tools for protecting account and transaction privacy, and integrated features for know-your-customer (KYC) checks.
This is an attempt by several layer 1s to close the distance between DeFi and big institutions.To try and accelerate this, Avalanche, NEAR, and other organizations have all launched enterprise collaborations.A news release states that the financial suite offering will make use of Microsoft Azure and Azure OpenAI technologies.
According to the announcement, Brevan Howard will be involved in developing possible prospects for institutions to offer digital asset management or products to their clients by using its experience and expertise in the field.The solutions’ implementation will be aided by Boston Consulting Group.
“In collaboration with SKT, Brevan Howard and Microsoft, Aptos Ascend will provide the world’s financial institutions, banks, and tech-forward money markets with a performant, compliant, secure, and scalable gateway to decentralized finance on Aptos that will evolve for years to come,” said Mo Shaikh, co-founder and CEO of Aptos Labs.
August saw the announcement by the business that Aptos is utilizing Microsoft’s infrastructure to roll out new products that integrate blockchain and artificial intelligence, such as Aptos Assistant, a new chatbot.Former Meta staff members created Aptos Labs.