Aptos Collaborates With Alibaba To Transform Asia’s Web3 Landscape

Asia’s Web3 ecosystem is all set to receive a major boost as the Aptos Foundation has announced a potential collaboration with tech giant Alibaba’s cloud group to launch Alcove, Asia’s first co-branded Move developer community. As a result, the Aptos Foundation will work with Alibaba Cloud in order to improve regional accessibility in the APAC region. Amid this development, Aptos’ native crypto APT is seeing a healthy uptick. As of press time, the Aptos (APT) price is up 2.96% trading at $7.0148 and a market cap of $3.14 billion.

Alcove – Aptos’ Bet to Build Nexus of Move Developers

Through Alcove, the Aptos Foundation and Alibaba Cloud would be cultivating an environment for developers to thrive, innovate, and drive the next wave of digital transformation.

Alcove’s goal will be to enhance the impact and adoption of the Move smart contracts programming language among skilled developers. The Move programming language provides security, scalability, and speed, which makes it an ideal choice for mass adoption in the Asia-Pacific region.

Japan will be the first region in the Asia Pacific to benefit from this Aptos collaboration. Japan’s blockchain and crypto-friendly regulatory environment makes it an ideal choice for steering Web3 and digital asset innovations on a global stage. Speaking on the development, Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation said:

“Partnering with the Alibaba Cloud team and with the help of their technology, we aim to create a vibrant environment that allows Japan’s growing interest in Web3 and IP strengths to flourish. As the foundation working to expand Aptos’ ecosystem worldwide, we’re committed to creating the best user experiences for the next generation of developers, in Japan, APAC and beyond.”

Aptos is well-known for working along with regulators. Earlier this month, the US CFTC gave Aptos Labs a seat on its Digital Assets Committee.

Undertaking Several Alcove Initiatives

To accelerate on-chain development, Aptos Foundation is launching a series of Alcove initiatives, beginning with a Move developer meetup co-hosted by OKCoin Japan and Alibaba Cloud. This event aims to empower builders by equipping them with the tools and knowledge to develop real-world use cases and showcase the tangible benefits of Web3 and digital assets in Japan.

Leveraging Alibaba Cloud technology, Aptos Foundation will also organize a series of hackathons for the Alcove community. These events are designed to nurture emerging Web3 talent, providing participants with the opportunity to learn from industry leaders and inspire the next generation of Web3 developers and innovators.

Last week, itself, BitMEX CEO Arthur Hayes made a bold prediction stating Aptos will flip Solana going ahead. The current developments suggest that Aptos is undertaking key projects in this direction.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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