SK Telecom has announced a collaboration with Aptos Labs, Brevan Howard, and Microsoft to deliver to the global financial market Aptos Ascend, a suite of end-to-end institutional solutions including a permissioned network and Digital Asset Controls powered by SKT's Wallet-as-a-Service product and the scalable, secure Aptos blockchain. Aptos Ascend will also tap Brevan Howard's industry leadership and expertise to develop a seamless path for any major bank or financial institution to begin offering digital currency and asset management to their clients responsibly and at scale.
Boston Consulting Group (BCG) will be Aptos Labs' preferred consulting partner, leveraging its global expertise in decentralized finance, digital assets, and AI to work with companies to implement the solutions. As one of the world's leading management consulting firms, BCG has a strong track record in delivering and implementing large-scale digital transformations for major financial institutions.
The institution-ready, end-to-end financial suite will use Microsoft Azure and Azure OpenAI Service, along with Brevan Howard's international and market-specific investment expertise, and SKT's regulatory-compliant Web3 technology, to pair innovative trade finance offerings with a decentralized, scalable, data-rich, and accessible network. Adding BCG's strategic consulting expertise will enable Aptos Labs clients to implement the technology solutions seamlessly within their institutions.
Oh Se-hyeon, Vice President and Head of Web3 CO at SKT
With a growing trend of tokenization in traditional finance, we expect the partnership to create a strong model for innovation in the future financial market. Built upon SKT's trusted KYC/authentication business experience, T wallet (Wallet as a Service) aims to provide a stable platform for various crypto services to be provided with high reliability and security.
Founder & CEO of Aptos Labs
Global institutions require superior levels of compliance, security, trust, and innovation to service customers, operate across borders, and adhere to regulations at every level. 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.
Adrian Crockett, GM & Head of Product, Microsoft Cloud for Financial Services
We see a tremendous opportunity at the intersection of AI and distributed ledger technologies and are pleased to support Aptos and the Ascend Project as they apply these technologies in financial services.
Gautam Sharma, CEO & CIO of Brevan Howard Digital
We continue to have high conviction in the positive impact that the application of Web3 and blockchain technology will have on the financial services industry. It is still early days, and we are pleased to support initiatives like Ascend that may help propel the industry forward.
