Aptos (APT) is preparing to enter the Japanese market by acquiring HashPalette, a major player in Japan’s blockchain ecosystem.
Layer-1 blockchain developer Aptos Labs has announced the acquisition of HashPalette.
As part of this acquisition, HashPalette will integrate its blockchain into the Aptos network, and the Palette Chain blockchain and existing HashPalette applications will be migrated to the Aptos network.
With this acquisition, Aptos Labs aims to leverage HashPalette’s strong position in Japan to connect with other major businesses and expand its presence across Asia.
In addition to acquiring HashPalette, Aptos Labs has also formed a strategic partnership with HashPalette’s parent company, HashPort, which will leverage Aptos’ blockchain infrastructure to create innovative products specific to the Japanese market.
Mo Shaikh, founder and CEO of Aptos Labs, said the following about the acquisition:
“The acquisition of HashPalette and the migration of HashPort’s Palette Chain to Aptos are critical first steps towards empowering Japanese businesses and developers with cutting-edge blockchain technology.”
The Aptos expansion is not limited to these partnerships, as Franklin Templeton announced the expansion of the Franklin OnChain US Government Monetary Fund (FOBXX) to the Aptos network.
*This is not investment advice.