Aptos Labs acquires HashPalette and integrates Palette Chain to expand blockchain services in Japan and strengthen Web3 adoption. Aptos will be the exclusive blockchain provider for the EXPO2025 digital wallet to be held in Osaka, showcasing blockchain technology globally.
In a tweet, Aptos Labs announced the acquisition of HashPalette Inc., a leading Japanese blockchain development company. HashPalette is known for developing Palette Chain, which distributes content via NFTs (Non-Fungible Tokens) and focuses on promoting Japanese entertainment culture globally.
Big news: Acquisition agreed @hashpalette_jpthe pioneer of Japanese pallet chains! This is a huge change for Japan and the Aptos ecosystem. 🌏
This highlights our commitment to Japan and accelerates its burgeoning digital economy with support for: @aptos Cutting-edge technology⚡🌐 pic.twitter.com/NjAYhT7ez1
— Aptos Labs (@AptosLabs) October 3, 2024
There will also be major changes in the Palette Chain ecosystem, as all applications and their governance token, PLT, will be housed on the Aptos network. It is expected to be completed in early 2025, in time for the EXPO2025 digital wallet in Osaka.
For this event, Aptos will serve as the sole blockchain supplier for the Expo digital wallet. The Expo is expected to attract more than 28 million attendees and will be the stage for Aptos to introduce blockchain technology to a global audience.
Therefore, during the integration process, holders of PLT tokens will have the opportunity to convert their tokens into APT, the native token of the Aptos network.
Aptos strengthens collaboration with Japanese companies to accelerate blockchain adoption
By acquiring HashPalette, Aptos not only increases its profile in Japan, but also creates opportunities to collaborate with large Japanese companies such as KDDI, one of the telecommunications giants.
This strategic partnership is expected to accelerate the acceptance of blockchain technology in several sectors such as entertainment, gaming, and digital assets in Japan.
Aptos Labs is also working with parent company HashPort to expedite the introduction of blockchain products to Japan. Through the use of Aptos’ infrastructure, this partnership will inspire creative ideas for business clients in Japan and foster more general acceptance of Web3 technology.
To increase its influence in this rapidly growing Asian sector, Aptos also intends to collaborate with Japanese universities, research institutes, and blockchain startups.
Meanwhile, CNF previously reported that Franklin Templeton has expanded its tokenized Fund of the United States Government Fund (FOBXX) on the Aptos blockchain, giving it more access to institutional investors. The BENJI token, representing the fund, allows investors to own tokenized shares of assets backed by the U.S. Treasury.
Meanwhile, at the time of writing, APT token is trading at around $8.63, up 5.42% in the past 24 hours. The daily trading volume also surged, increasing by 61.43% to $523.43 million.
