SKT collaborates with Aptos Labs, Brevan Howard and Microsoft to bring global institutional finance on-chain with Aptos Ascend
"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," said Oh Se-hyeon, Vice President and Head of Web3 CO at SKT. "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."
"Global institutions require superior levels of compliance, security, trust, and innovation to service customers, operate across borders, and adhere to regulations at every level," said
"We see a tremendous opportunity at the intersection of AI and distributed ledger technologies and are pleased to support Aptos and the
"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," said
In addition to bringing traditional finance giants, innovative fintech partners, money market platforms, and global investment firms into the Web3 fold, Aptos Ascend will enable organizations to:
- Unlock unparalleled transaction efficiency with the Aptos blockchain thanks to an industry-leading sub-second latency—built for scale to achieve more than 30,000 transactions per second (TPS).
- Use the Move smart contract language and Digital Asset Controls, which provide secure asset management, privacy options, and formal verification of smart contracts, greatly reducing the risk of hacks.
- Collaborate with like-minded partners to build an extended ecosystem from the start to deliver scale from day one to encourage adoption.
- Further explore financial services solutions with dedicated support from the Aptos Labs' engineering team to develop additional functions and features as required.
The institution-ready, end-to-end financial suite will use Microsoft Azure and Azure OpenAI Service, along with
- Expanding decentralized finance to institutional capital.
- Unlocking the uncollateralized lending market for Web3.
- Releasing the liquidity of tokenized assets on a global scale.
Aptos Ascend is designed to help regulated institutions around the world meet their obligations to customers, regulators, and other stakeholders. Further, Aptos Ascend includes unparalleled customizable configurations to meet specific business and regulatory requirements, including:
- Access controls to help institutions meet regulatory requirements.
- Controls over the types of transactions allowed and which entities can control transaction types.
- Tools to maintain account and transaction privacy.
- Embedded features for Know Your Customer (KYC) and anti-money laundering (AML) checks and other regulatory considerations.
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For more information, please contact skt_press@sk.comor visit our LinkedIn page www.linkedin.com/company/sk-telecom.
Aptos Network
Aptos is a next-generation Layer 1 blockchain. Aptos' breakthrough technology and programming language, Move, are designed to evolve, improve performance and strengthen user safeguards. Please visit https://www.aptosfoundation.org for more information on the Aptos blockchain.
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