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The price of Aptos (APT), the cryptocurrency behind the Aptos Network blockchain, experienced a significant increase of 17.6% within the first 50 minutes after announcing a partnership with Microsoft. The cryptocurrencys price then cooled off but remained 11.6% higher than its pre-announcement levels, at $7.51.

Aptos aims to drive the adoption of Web3 technology in banks and financial enterprises by leveraging Microsofts suite of artificial intelligence (AI) tools. The partnership will enable the Aptos Network to tap into Microsofts Azure OpenAI service, allowing them to explore innovations in asset tokenization, on-chain payments, and central bank digital currencies.

The collaboration between Aptos Labs, the company behind Aptos, and Microsoft will provide developers and users worldwide with easy access to Web3 through a joint suite of AI-supported tools. One of these tools is Aptos Assistant, a chatbot empowered by ChatGPT, which will guide users in transitioning from Web2 to Web3.

Additionally, Microsoft will enhance the security of the Aptos Network by allowing Aptos Labs to run validator nodes on Azure.

Aptos CEO, Mo Shaikh, expressed his optimism about the integration of AI and blockchain technologies, stating that they are both groundbreaking advancements that have a profound impact on the internet and society as a whole.

Despite the price surge, Aptos token is still 62.9% below its all-time high of $19.92 on January 26, 2023. The Aptos Network was launched on October 17 after four years of development. Aptos was founded by former Meta employees Mo Shaikh and Avery Ching, who were involved in Metas unsuccessful Diem project. The company raised $150 million in funding in July 2022 and an additional $200 million in March 2022 from investors such as Andreessen Horowitz, Coinbase Ventures, and FTX Ventures.

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Aptos Cryptocurrency Surges on Partnership with Microsoft - Fagen wasanni