Palette

Aptos

DeFi

<ul class="wp-block-list">
 <li>Aptos Labs acquires HashPalette, migrating its blockchain and applications to the Aptos network, pending regulatory approvals.</li>  
 <li>Aptos will provide the EXPO2025 digital wallet, allowing attendees to interact with NFTs, digital assets, and decentralized apps.</li>  
 <li>PLT token holders can exchange for APT tokens, starting late November, with APT tokens locked for one year post-exchange.</li> 
</ul>  
<p>Aptos Labs has announced the acquisition of HashPalette, the blockchain developer owned by HashPort Inc. This move significantly strengthens Aptos’ presence in the Japanese market.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/AptosLabs/status/1841630980333044108
 </div>
</figure>  
<p>According to the agreement, HashPort will transfer the Palette chain and HashPalette's applications, such as the EXPO2025 digital wallet, to the Aptos blockchain. Even though the acquisition is still dependent on typical closing conditions and regulatory approvals, it is anticipated to be completed soon.</p>  
<h2 class="wp-block-heading" id="h-aptos-role"><strong>Aptos' Role</strong></h2>  
<p>Aptos Labs is set to have a crucial part in the forthcoming <a href="https://www.expo2025.or.jp/en/" target="_blank" rel="noopener noreferrer nofollow">EXPO2025</a> in Osaka. The Expo intends to employ the Aptos blockchain as the official digital wallet with a projection of reaching more than 28 million people.</p>  
<p>The wallet enables attendees to interact with NFTs, digital assets, and decentralized applications. Moreover, the partnership for EXPO2025 also proves that Aptos is capable of offering scalable and accessible <a href="https://cryptonewsland.com/tether-expands-to-aptos-blockchain-promises/" target="_blank" rel="noopener noreferrer nofollow">blockchain solutions</a> securely to the people.</p>  
<p><strong>Palette Chain Migration</strong></p>  
<p>Moreover, as part of this acquisition, the <a href="https://thirdweb.com/palette-chain" rel="noopener noreferrer nofollow">Palette Chain</a> will migrate from its existing infrastructure to the Aptos blockchain. This migration aims to enhance scalability, security, and development tools for users and developers.&nbsp;</p>  
<p>Significantly, holders of the Palette governance token, $PLT, will be able to exchange their tokens for Aptos’ native $APT token starting in late November.&nbsp;</p>  
<p>However, to ensure a smooth transition, the APT tokens will be locked for a year, meaning they cannot be sold or transferred during this period.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-collaboration-with-hashport"><strong>Collaboration With HashPort</strong></h2>  
<p>Additionally, Aptos Labs plans to establish a strategic partnership with <a href="https://www.hashport.network/" target="_blank" rel="noopener noreferrer nofollow">HashPort</a>, a leading blockchain company in Japan. This partnership will focus on advancing Web3 adoption across the country. Recently, Aptos <a href="https://cryptonewsland.com/aptos-partners-with-nillion-to-enhance-privacy-in-defi-and-ai/" target="_blank" rel="noopener noreferrer nofollow">partnered with Nillion</a> to advance privacy in DeFi and AI.</p>  
<p>Aptos will support local developers, NFT creators, and businesses to foster a strong, innovative Web3 community. The collaboration underscores Aptos’ commitment to helping Japanese enterprises build blockchain solutions tailored to their needs.</p>  
<h2 class="wp-block-heading" id="h-nbsp-a-key-market-for-aptos"><strong>&nbsp;A Key Market for Aptos</strong></h2>  
<p>Japan remains a key focus for Aptos Labs. HashPalette’s established connections with major companies like KDDI provide a valuable entry point into the country. Through this acquisition, Aptos Labs aims to drive Web3 adoption in Japan's entertainment, gaming, and digital asset sectors.</p> 
<p>The post <a href="https://cryptonewsland.com/aptos-labs-boosts-japanese-market-presence/" rel="noopener noreferrer nofollow">Aptos Labs Boosts Japanese Market Presence Through HashPalette Acquisition</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Aptos Labs Boosts Japanese Market Presence Through HashPalette Acquisition

Table of Contents

Crypto News Land

Other articles published on Oct 3, 2024

XRP Price Crashes 12% as SEC Appeals in the Ripple Lawsuit

Wintermute Deposits $34.44M in ETH and $57M in USDT into Binance Over 24 Hours

The SEC Files Notice of Appeal in Its Lawsuit Against Ripple

Investors Are Selling Bitcoin To Buy This Asset Amid Middle East Crisis

Aptos Labs Acquires HashPalette, Migrates Palette Chain Applications to Aptos Network

SEC Naik Banding, Ripple Tetap Siap Hadapi Tantangan

Join our free newsletter for daily crypto updates!