Aptos Foundation has announced a partnership with Alibaba Cloud. As part of the collaboration, the two companies will launch the first co-branded Move developer community in Asia. The altcoin project aims to accelerate Web3 capabilities and accessibility in the APAC region through this partnership. The news of the partnership also served as a catalyst for the APT price.
Alibaba partnership pushes the altcoin price north!
As reported by Kriptokoin.com, Aptos Foundation has entered into a significant collaboration with Alibaba Cloud. The partnership aims to accelerate Web3 capabilities and accessibility in the Asia-Pacific region. The Layer-1 Blockchain provider will be the main Blockchain sponsor in Alibaba Cloud’s Singapore Innovation Accelerator program. According to the announcement, the two companies will collaborate to launch the first co-branded Move developer community in Asia. In this context, the Aptos altcoin project made the following entry in the announcement series:
This news served as a catalyst for the altcoin price. Following the collaboration announcement, APT experienced an upward movement from around $7 to $7.49 during the day. However, the token later retraced some of its gains. Nevertheless, at the time of writing, APT was trading at $7.36, representing an increase of over 5% on a daily basis.
What will the collaboration bring?
According to experts, this partnership will open the door to new opportunities for the altcoin. Developers designed Move to enhance performance and strengthen Web3 protections. The language gained significant interest in Asia with numerous developers organizing hackathons, workshops, and other events. Aptos Foundation and Alibaba Cloud will collaborate on a series of hackathons and regional events to strengthen the Asia-Pacific Web3 community.
Aptos Foundation aims to leverage Alibaba Cloud’s highly scalable, efficient, and secure cloud infrastructure to support the growth of the Aptos ecosystem. The company also plans to provide funding for prominent altcoin projects based on Aptos. Additionally, it will offer guidance and expert advice on technology integration. Bashar Lazaar, President of Ecosystems and Grants at Aptos Foundation, commented on the announcement:
