Aptos has announced its acquisition of Japanese blockchain developer HashPalette as an expansion into Japan’s blockchain market.
Aptos Labs, the firm behind layer one blockchain Aptos Network, recently announced its acquisition of HashPalette Inc. as a way of expanding into Japan’s blockchain market. This acquisition marks a strategic push into this lucrative region of Southeast Asia.
Aptos Labs announced in an Oct. 3 Medium announcement that, per the agreement, HashPalette – which has established relationships with multiple Japanese firms – plans to migrate its Palette Chain as well as applications onto Aptos Network by early 2025. Holders of Palette Chain governance token PLT may exchange it for APT; details on this process have yet to be provided.
Aptos will serve as the exclusive blockchain powering Expo 2025’s digital wallet system in Osaka. Through Aptos’ infrastructure, participants at Expo will have access to non-fungible tokens, digital assets, and decentralized applications for use during their experience, according to an announcement from Expo organizers.
Aptos Network native token Aptos saw its price increase by 7.32% to $8.24 while PLT experienced an approximate 15% decline. Aptos noted that final approvals must still be secured before proceeding with this acquisition.
Aptos Foundation and OKX Ventures recently collaborated to establish Ankaa, a $10 million fund designed to assist projects on the Aptos blockchain. Through an accelerator program that provides venture support, targeted mentorship, market exposure, and access to an extensive network of industry experts for selected projects, Ankara will drive growth by supporting them on Aptos’ blockchain.
