Aptos Labs
{{Infobox company
| name = Aptos Labs
| logo = Aptos logo (2025).png
| type = Private
| industry = Blockchain, Cryptocurrency, Web3
| predecessor =
| foundation = {{start date and age|2021}}
| location = Palo Alto, California, U.S.
| founder = Avery Ching, Mo Shaikh
| products =
| aum =
| assets =
| homepage = {{official website|https://aptoslabs.com}}
}}
Aptos Labs is a blockchain technology company headquartered in Palo Alto, California, known for developing the Aptos blockchain, a Layer-1 blockchain in the Web3 space. It was founded in 2021 by Mo Shaikh and Avery Ching, former employees of Facebook.
History
Aptos Labs was founded in 2021 following the dissolution of Meta's Diem project, an attempt by the social media company to develop a stablecoin and blockchain ecosystem.{{Cite web |last=Singh |first=Lucas Matney, Manish |date=2022-03-15 |title=Ex-Meta employees raise $200M from a16z, Tiger, Multicoin to realize Facebook's crypto dreams |url=https://techcrunch.com/2022/03/15/aptos-labs-a16z-multicoin-facebook-diem-blockchain/ |access-date=2024-11-25 |website=TechCrunch |language=en-US}}{{Cite web |last=Sraders |first=Anne |title=Aptos Labs is aiming to give Meta’s crypto project Diem a second life—if a crypto winter and a $1 billion lawsuit against the CEO don’t get in the way |url=https://fortune.com/2022/07/14/aptos-labs-meta-crypto-project-diem-crypto-winter-lawsuit/ |access-date=2024-11-25 |website=Fortune |language=en}} Founded and led by Mo Shaikh and Avery Ching, who worked on Diem, leveraged their experience to create Aptos Labs.{{Cite web |title=Aptos Labs and India’s pioneering gaming force STAN launch esports platform enabling India’s 500m gamers to engage with favorite players |url=https://www.indiatodaygaming.com/news/story/aptos-labs-and-indias-pioneering-gaming-force-stan-launch-esports-platform-enabling-indias-500m-gamers-to-engage-with-favorite-players-3742 |access-date=2024-11-25 |website=India Today Gaming |language=en}}{{Cite web |last=Takahashi |first=Dean |date=2023-11-20 |title=Readygg partners with Aptos Labs to bring more players to Web3 games |url=https://venturebeat.com/games/readygg-partners-with-aptos-labs-to-bring-more-players-to-web3-games/ |access-date=2024-11-25 |website=VentureBeat |language=en-US}} The Aptos blockchain, which uses the Move programming language, was designed to address limitations in scalability and efficiency that exist in other blockchain technologies.{{Cite web |title=Launched by Former Meta Employees, Aptos Labs Raises $150M for Diem Blockchain {{!}} Built In San Francisco |url=https://www.builtinsf.com/articles/aptos-labs-raises-150m-diem-blockchain-meta |access-date=2024-11-25 |website=Built In |language=en}}{{Cite web |last=Weiss |first=Ben |title=Microsoft partners with Aptos Labs to build A.I. tools that help banks explore blockchain integrations on Azure |url=https://fortune.com/crypto/2023/08/09/microsoft-aptos-labs-ai-blockchain-partnership-github-copilot-aptos-assistant-chatgpt/ |access-date=2024-11-25 |website=Fortune Crypto |language=en}}
Since its founding, Aptos Labs has secured funding from various investors.{{Cite news |date=2022-09-15 |title=Binance Labs Boosts Investment in Blockchain Startup Aptos |url=https://www.bloomberg.com/news/articles/2022-09-15/binance-labs-adds-to-investment-in-ex-meta-blockchain-startup |access-date=2024-11-25 |work=Bloomberg.com |language=en}} Mo Shaikh led the company's financing and raised $400 million ($200m series seed, $200m series A), with backing from notable venture capital firms such as Andreessen Horowitz, Apollo Global Management, and Franklin Templeton.{{Cite news |date=2022-07-25 |title=Ex-Meta Staffers Raise $150 Million for New Crypto Venture |url=https://www.bloomberg.com/news/articles/2022-07-25/ex-meta-staffers-raise-150-million-for-new-crypto-venture |access-date=2024-11-25 |work=Bloomberg.com |language=en}}
The company has partnered with Microsoft to explore the integration of blockchain technology with AI and data services.{{Cite web |last=Melinek |first=Jacquelyn |date=2023-08-09 |title=Microsoft partners with Aptos blockchain to marry AI and web3 |url=https://techcrunch.com/2023/08/09/microsoft-aptos-blockchain-ai-web3/ |access-date=2024-11-25 |website=TechCrunch |language=en-US}}{{Cite web |date=2024-04-18 |title=Aptos Labs collaborates with Microsoft, SK Telecom on institutional blockchain platform |url=https://siliconangle.com/2024/04/18/aptos-labs-collaborates-microsoft-sk-telecom-institutional-blockchain-platform/ |access-date=2024-11-25 |website=SiliconANGLE |language=en-US}}{{Cite web |date=2023-08-10 |title=Microsoft, Aptos Labs Partner to Unite Web3, AI: Details |url=https://www.gadgets360.com/cryptocurrency/news/microsoft-aptos-labs-unite-web3-artificial-intelligence-ai-blockchain-4287026 |access-date=2024-11-25 |website=Gadgets 360 |language=en}} In addition, Google Cloud has collaborated with Aptos Labs to provide infrastructure support and run a validator on the Aptos network.{{Cite web |last=Takahashi |first=Dean |date=2024-03-15 |title=Aptos Labs and Google Cloud team up to elevate Web3 experiences |url=https://venturebeat.com/games/aptos-labs-and-google-cloud-team-up-to-elevate-web3-experiences/ |access-date=2024-11-25 |website=VentureBeat |language=en-US}} The company has also worked with NBC Universal to create blockchain-based digital experiences.{{Cite web |last=Weiss |first=Ben |title=NBCUniversal and Aptos Labs team up on Web3 game for Nicolas Cage's 'Renfield' |url=https://fortune.com/crypto/2023/03/24/nbcuniversal-renfield-nicolas-cage-dracula-aptos-nfts-blockchain/ |access-date=2024-11-25 |website=Fortune Crypto |language=en}}{{Cite web |title=NBCUniversal 将通过长期协议继续在 Aptos 上构建 - 深潮TechFlow |url=https://www.techflowpost.com/article/detail_18562.html |access-date=2024-11-25 |website=TechFlow}}{{Cite web |date=5 Aug 2024 |title=Aptos Labs: Accelerating the Future of Web3 |url=https://www.nasdaq.com/videos/aptos-labs-accelerating-future-web3}}
In February 2023, Aptos Labs made an equity investment in the short-video social media app Chingari.{{Cite news |date=9 Feb 2023 |title=Aptos Labs makes equity investment in Chingari social media app |url=https://www.livemint.com/companies/news/aptos-labs-makes-equity-investment-in-chingari-social-media-app-11675935175881.html}}{{Cite web |title=Aptos Labs makes equity investment in Chingari |url=https://www.theweek.in/news/biz-tech/2023/02/10/aptos-labs-makes-equity-investment-in-chingari.html |access-date=2024-11-25 |website=The Week |language=en}}{{Cite news |date=2023-02-09 |title=Aptos Labs makes equity investment in Chingari |url=https://timesofindia.indiatimes.com/aptos-labs-makes-equity-investment-in-chingari/articleshow/97776643.cms |access-date=2024-11-25 |work=The Times of India |issn=0971-8257}}
Aptos Labs is one of 11 firms selected to participate in the second phase of Hong Kong's e-HKD pilot program, an initiative led by the Hong Kong Monetary Authority (HKMA) to explore the feasibility of central bank digital currencies and tokenized deposits.{{Cite web |date=2024-09-23 |title=Hong Kong to explore 11 use cases in phase 2 of e-HKD pilot |url=https://www.scmp.com/business/banking-finance/article/3279639/hong-kongs-central-bank-explore-11-use-cases-phase-two-e-hkd-pilot |access-date=2024-11-25 |website=South China Morning Post |language=en}}{{Cite web |last=Authority |first=Hong Kong Monetary |title=Hong Kong Monetary Authority - Central Bank Digital Currency (CBDC) |url=https://www.hkma.gov.hk/eng/key-functions/international-financial-centre/fintech/central-bank-digital-currency/ |access-date=2024-11-25 |website=Hong Kong Monetary Authority |language=en}} Aptos Labs along with Boston Consulting Group and Hang Seng Bank, will test the commercial value of settling a tokenized fund using digital money on a public blockchain.{{Cite web |title=Pilot e-HKD program entering 2nd phase |url=https://www.chinadailyhk.com/hk/article/593756 |access-date=2024-11-25 |website=chinadailyhk |language=en}}
In October 2024, Aptos Labs has expanded into the Japanese blockchain market through the acquisition of HashPalette Inc., the developer of Palette Chain.{{Cite web |last=Mehta |first=Shiv |title=Aptos Labs Expands in Japan & Hong Kong: Web3 Blockchain Moves |url=https://www.insightlabs.com.au/p/aptos-labs-expands-in-japan-and-hong-kong |access-date=2024-11-25 |website=www.insightlabs.com.au |language=en}}{{Cite web |last=McCall |first=Isaiah |date=2024-10-07 |title=Franklin Templeton Expands into Aptos Crypto: How Will This Impact APT Price? |url=https://www.ibtimes.com/franklin-templeton-expands-aptos-crypto-how-will-this-impact-apt-price-3745845 |access-date=2024-11-25 |website=International Business Times |language=en-US}} In November, Aptos Labs led a $10 million funding round for the decentralized gaming network KGeN, bringing the network's valuation to $500 million.{{Cite news |last=SN |first=Vikas |date=20 November 2024 |title=Decentralised gamer network KGeN bags $10 mn funding led by Aptos Labs; valuation jumps to $500 mn |url=https://www.moneycontrol.com/news/business/startup/decentralised-gamer-network-kgen-bags-10-mn-funding-led-by-aptos-labs-valuation-jumps-to-500-mn-12871792.html}}{{Cite news |date=2024-11-21 |title=Web3 gaming startup Kratos Gamer Network raises fresh funds; valuation jumps to $500 million |url=https://economictimes.indiatimes.com/tech/funding/web3-gaming-startup-kratos-gamer-network-raises-10-million-valuation-jumps/articleshow/115497364.cms |access-date=2024-11-25 |work=The Economic Times |issn=0013-0389}}