Aptos Labs has announced its acquisition of HashPalette Inc., a subsidiary of HashPort Inc. and the developer of the Palette blockchain.
According to the press release on October 3, this move is part of Aptos Labs’ strategic initiative to enter and strengthen its presence in Japan’s blockchain market.
The blockchain developer revealed that under the agreement, HashPalette—already connected with several Japanese companies—will migrate its Palette Chain and its applications to the Aptos Network by early 2025. Additionally, holders of the Palette Chain’s governance token, PLT, will likely have the option to exchange it for APT, although the details of this process remain unclear.
The integration is set to be finalised before Expo 2025 in Osaka, where Aptos will act as the exclusive blockchain provider for the event’s digital wallet system. This partnership will enable Expo participants to interact with non-fungible tokens, digital assets, and decentralised applications using Aptos’ infrastructure, according to the announcement. Aptos noted that the acquisition is subject to standard closing conditions and regulatory approvals.
The acquisition comes on the heels of Aptos Foundation’s recent partnership with OKX Ventures to establish a $10 million fund to support projects on the Aptos blockchain. Named Ankara, the fund aims to foster growth through an accelerator program that provides venture support, targeted mentorship, market exposure, and access to a broad network of industry experts for selected projects.
Aptos has been engaged in several strategic partnerships, including a new initiative with Alibaba Cloud to promote intelligent contract programming languages in Japan, highlighting its focus on the Asia-Pacific region. Announced in a blog post on June 28, this collaboration aims to enhance Japan’s blockchain ecosystem and improve accessibility across APAC. Alcove, a co-branded developer community promoting the Move programming language, has been established as part of this effort. Alcove’s first event will be a meetup co-hosted by OKCoin Japan and Alibaba Cloud, demonstrating the practical benefits of web3 and digital assets in Japan.
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