Seoul, South Korea - SK Telecom (NYSE: SKM) has partnered with Aptos Labs, Brevan Howard, and Microsoft to launch Aptos Ascend, a suite of end-to-end institutional solutions for the global financial market.
The solutions will leverage SKT's wallet-as-a-service product and the Aptos blockchain to provide a permissioned network and digital asset controls.
The collaboration aims to provide financial institutions with a high-performance, compliant, secure, and scalable gateway to decentralized finance on the Aptos blockchain.
The platform is designed to handle more than 30,000 transactions per second (TPS).
It offers features like the Move smart contract language and Digital Asset Controls for secure asset management and privacy options.
Oh Se-hyeon, vice president of SKT and head of Web3 CO, said the partnership is expected to create a robust model for innovation in the future financial market.
Brevan Howard will provide industry leadership and expertise to develop a seamless way for banks and financial institutions to offer their customers digital currency and asset management.
The Boston Consulting Group (BCG) will serve as Aptos Labs' preferred consulting partner, leveraging its decentralized finance, digital assets, and AI expertise to help companies implement the solutions.
The collaboration aims to extend decentralized finance to institutional capital, unlock the unsecured lending market for Web3, and increase the liquidity of tokenized assets globally.
