Aptos and HashPalette Partnership
Japanese blockchain developer HashPalette has been acquired by Aptos lab, the team behind layer-1 blockchain Aptos Network. This action signals Aptos entry into Japan leveraging its already existing ties in the Japanese market.
Token Migration and Expo
The Palette chain along with its applications is expected to be integrated into Aptos Network by early 2025. This program includes migration of the Palette chain governance token (PLT), which can be exchanged for Aptos token (APT) in later stages. Aptos will also support the digital wallet system for Expo 2025 in Osaka. This will allow customers to interact with NFTs, digital assets, and decentralized apps.
Market Impact and Future Outlook
Following the acquisition announcement, Aptos’ token (APT) increased by a whopping 7%, however, PLT suffered a devastating 15% drop. This project was necessary to show the Japanese stance on blockchain on a global scale. It will introduce a whole new audience of Japanese into the world of crypto.