SKT teams up with Aptos Labs, Brevan Howard & Microsoft for global institutional finance on-chain with Aptos Ascend

SK Telecom, Aptos Labs, Letter Howard, and Microsoft have joined forces to introduce Aptos Ascend, a comprehensive institutional solution for the global financial market. Aptos Ascend includes a permissioned network and Digital Asset Controls powered by SK Telecom’s Wallet-as-a-Service product and the secure Aptos blockchain. The collaboration also involves industry leader Brevan Howard, known for its expertise in digital currency and asset management.

The partnership with Boston Consulting Group (BCG) will ensure that companies receive expert consulting on implementing these innovative solutions. BCG’s track record in delivering large-scale digital transformations for major financial institutions positions them as a preferred consulting partner for Aptos Labs.

According to Oh Se-hyeon, Vice President and Head of Web3 CO at SK Telecom, Aptos Ascend aims to provide a stable platform for cryptocurrencies and other digital services while ensuring high reliability and security. Mo Shaikh, Co-Founder & CEO of Aptos Labs, highlights the need for compliance, security, and innovation in serving customers across borders and adhering to regulations.

Microsoft’s Adrian Crockett emphasizes the potential of AI and distributed ledger technologies in financial services, supporting Aptos and the Ascend Project. Brevan Howard Digital’s CEO & CIO, Gautam Sharma, believes in the positive impact of Web3 and blockchain technology on the financial services industry.

Aptos Ascend offers unparalleled transaction efficiency with sub-second latency, built to handle over 30,000 transactions per second. The Move smart contract language and Digital Asset Controls enhance security and privacy, reducing the risk of hacks. The initiative encourages collaboration among partners to build a scalable ecosystem from day one and support adoption.

By leveraging Microsoft Azure, Brevan Howard’s investment expertise, and SK Telecom’s Web3 technology, Aptos Ascend aims to provide innovative trade finance offerings on a decentralized network. This end-to-end financial suite will help institutional capital enter decentralized finance, unlock uncollateralized lending on Web3, and globalize tokenized assets.

Aptos Ascend is designed to help regulated institutions meet their obligations while offering customizable configurations for specific business and regulatory requirements. The collaboration aims to deliver immediate value at a global scale and drive innovation in the financial services industry.

SK Telecom, a leader in the mobile industry since 1984, is now focusing on AI-driven innovations to enhance customer experience beyond connectivity. Aptos is revolutionizing Layer 1 blockchain technology through its Move programming language, designed to improve performance and user safeguards.

For more information on SK Telecom and Aptos, visit their respective websites. Join the conversation on LinkedIn and stay updated on the latest developments in the financial market.

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