Aptos Labs, a leading blockchain framework provider, has formed strategic partnerships with several companies to launch Aptos Ascend.

Aptos Ascend is a digital asset management platform designed for financial institutions. It leverages Microsoft Azure's cloud computing infrastructure and the Azure OpenAI Service for language modeling, enhancing the strength of generative AI applications.

The platform also draws on Brevan Howard's market investment expertise to assist financial institutions in offering customers digital currency and asset management solutions. It also benefits from SK Telecom's Web3 technology, such as wallet-as-a-service features.

Aptos Labs has collaborated with the Boston Consulting Group, which reported $12.3 billion in revenue in 2023 as an associate consultant, to provide decentralized finance to institutional capital through the Aptos Network and improve tokenized asset liquidity.

Mo Shaikh, Aptos Labs' Co-Founder and CEO, emphasizes the importance of international institutions having high compliance standards, safety measures, trustworthiness, and innovation to serve clients operating globally and adhering to regulations.

Through its partnerships with SK Telecom, Brevan Howard, and Microsoft, Aptos Ascend will offer global financial institutions, banks, and tech-focused markets a secure and evolving path towards decentralized finance on Aptos.

In addition, Aptos Labs signed an agreement with Microsoft in August last year to develop digital payments, tokenization, and the intersection of AI and Web3.

Aptos Labs is headquartered in Palo Alto, California. The company's Co-Founder and CTO, Avery Ching, previously worked as a principal software engineer at Meta Novi, a digital wallet platform that is now closed.

The company's native token, APT, was trading at $9.19, marking a 1.14% increase. The cryptocurrency ranks 26th with a market capitalization of $3.9 billion.