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Ex-Meta employees' Aptos tests Hong Kong's crypto appetite

TechCrunch · 1y

Aptos, the a16z-backed blockchain network, is turning its attention towards Hong Kong's growing interest in blockchain and decentralized finance (DeFi). Aptos, a Layer 1 blockchain, aims to disrupt the traditional banking system by utilizing decentralized technology. With Hong Kong serving as a sandbox for web3 experimentation, Aptos is already collaborating with Alibaba to target web3 developers in Asia. Additionally, Aptos has developed the JamboPhone, a device that aims to provide financial inclusivity, especially in emerging markets such as Africa, Southeast Asia, and Latin America. While Aptos is optimistic about the regulatory landscape in Hong Kong, the founder refrains from speculating on the timeline for Aptos-based DeFi services in the region.