Aptos Labs Acquires HashPalette Inc. to Supercharge Japan's Digital Economy with Cutting-Edge Blockchain Technology

In a tweet, Aptos Labs announced the acquisition of HashPalette Inc., a leading blockchain developer in Japan. HashPalette is known for developing Palette Chain, which focuses on distributing content through NFTs (Non-Fungible Tokens) and promoting Japanese entertainment culture globally.

Aptos Labs recently announced the acquisition of HashPalette Inc., a leading blockchain developer in Japan. HashPalette is known for developing Palette Chain, a blockchain that focuses on distributing content through NFTs and promoting Japanese entertainment culture globally.

With this acquisition, Palette Chain will be integrated into the Aptos network, and all applications and its governance token will be housed on the Aptos network. The integration is expected to be completed by early 2025, coinciding with the launch of the EXPO2025 Digital Wallet in Osaka.

At the event, Aptos will be the sole blockchain provider for the Expo digital wallets, which will be used by over 28 million attendees. This will give Aptos a massive platform to showcase its blockchain technology to a global audience.

During the integration process, PLT token owners will have the opportunity to convert their tokens for APT, the native token of the Aptos network.

Aptos Strengthens Ties with Japanese Corporations to Accelerate Blockchain Adoption

The acquisition of HashPalette not only increases Aptos’ visibility in Japan but also creates opportunities for cooperation with large Japanese corporations like KDDI, one of the telecom behemoths.

This strategic alliance is designed to accelerate the adoption of blockchain technology in multiple sectors, including entertainment, gaming, and digital assets in Japan.

Aptos Labs is also working with HashPalette’s parent company, HashPort, to accelerate the introduction of blockchain products into Japan. This partnership will inspire creative ideas for Japanese business clients and promote broader Web3 technology adoption, utilizing Aptos’ infrastructure.

To expand its footprint further in this fast-growing Asian market, Aptos also intends to collaborate with Japanese universities, research labs, and blockchain startups.

On another note, CNF earlier reported that Franklin Templeton has now expanded the tokenized US Government Money Fund (FOBXX) on the Aptos blockchain, increasing institutional investors’ access. The token, dubbed BENJI, represents the fund and allows investors to own tokenized shares of an asset backed by the US Treasury.

Meanwhile, the APT token is trading at around $8.63 at the time of writing, up 5.42% in the last 24 hours. Its daily trading volume has also surged sharply, rising by 61.43% to $523.43 million.