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Aptos Labs, the developer of Aptos blockchain has announced its plan to acquire HashPalette Inc., a subsidiary of HashPort Inc. and developer of the Palette blockchain. In a Thursday blog post, Aptos Labs confirmed the development stating that this strategic move will help it penetrate into the Japanese market.
HashPalette has established strong relationships with major Japanese enterprises including KDDI, thus making it easier for Apto Labs to get into Japan’s most influential companies. Similarly, this acquisition signifies Aptos‘s commitment to ensuring that scalable blockchains are available to advanced digital economies across the globe. However, it is important to note that the landmark acquisition between the two firms is subject to Japan’s regulatory approvals and customary closing conditions.
Aptos Network to integrate Palette Chain
As stipulated in the agreement, HashPort Inc, will integrate Palette Chain and HashPalette applications into Aptos Network. The integration will provide Japanese developers and creators with the resources needed to build innovative projects on a global level. In addition, the Palette Chain ecosystem will also enjoy access to enhanced scalability, stronger security, and a comprehensive suite of developer tools by joining the Aptos ecosystem.
The migration of Palette Chain ecosystem into Aptos will be completed by January 2025, in time for the EXPO2025. The EXPO2025 is the largest and most prestigious international exhibition event aimed at encouraging innovations in the digital world. The event is scheduled to be held between April and October 2025 in Osaka with over 28 million expected visitors. It is important to note that Aptos Labs is the sole blockchain firm powering the EXPO2025 DIGITAL WALLET.
Notably, the integration will enable Expo2025 participants to interact with NFTs, digital assets, and decentralized applications. This will be made possible through through the Aptos-powered EXPO2025 DIGITAL WALLET. Similarly, it also enables users to unlock potential features such as pavilion bookings, ticketing, loyalty programs and digital collectibles.
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The post Aptos acquires HashPalette to penetrate Japan market appeared first on BinBits.
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