Aptos Labs, the company behind the Aptos Network, has signed a groundbreaking deal to acquire Japanese NFT service provider HashPalette, expanding its reach into the Asian market. On October 3, HashPalette revealed its transition into a fully-owned subsidiary of Aptos Labs, following an agreement with its former parent company, HashPort. As part of this deal, HashPalette’s Palette Chain and all associated applications will migrate to the Aptos Network.

The acquisition, pending final approvals, is viewed as a strategic move by Aptos to strengthen its influence in Japan. The company plans to leverage HashPalette’s connections with top Japanese firms to establish a foothold in the country. Aptos aims to support local Web3 developers, NFT creators, and enterprises with its cutting-edge blockchain technology.

Mo Shaikh, CEO and founder of Aptos Labs, emphasized the importance of the deal, stating it would empower Japanese businesses to harness the power of blockchain innovation.

HashPort, on the other hand, will continue providing services to its clients, now utilizing Aptos Network infrastructure.

In another significant development, Aptos has also secured a deal with Franklin Templeton, a global asset management firm. The company’s blockchain will now host the Franklin OnChain US Government Money Fund (FOBXX), which previously operated on the Stellar network. Aptos’ unique blockchain features reportedly met the needs of Franklin Templeton’s Benji platform, a system designed to record and process blockchain-based transactions.

This acquisition and partnership signal Aptos Labs' growing influence in the global blockchain space, especially within Japan.

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