PACT Protocol Migrates to Aptos, Transforming Global Credit Markets – BitRss

The PACT Protocol has announced its migration to the Aptos Network, a move that aims to revolutionize credit markets by enhancing speed, transparency, and efficiency for borrowers, lenders, and institutional investors worldwide. This transition is expected to significantly impact financial inclusion, potentially unlocking access to credit for over 6 billion people who currently lack traditional financial services.

The PACT Protocol enables fintech lenders, institutional investors, and capital market participants to issue, manage, and securitize loans directly on-chain. This approach reduces costs and expands access to global credit markets. The decision to migrate to Aptos was influenced by the network’s institutional-grade infrastructure, scalability, and adoption within the financial sector. Aptos supports native USDC ($1.00) and USDT ($1.00), facilitating seamless money movement and high-profile integrations.

Why Aptos Stands Out

Aptos is recognized for its unmatched performance and speed, delivering sub-second finality and handling hundreds of millions of transactions daily. In August, the network set a new Layer 1 record by processing 326 million transactions in a single day without failures, delays, or gas fee spikes. Despite this high volume, the network maintained low gas fees, making it up to 100 times more cost-efficient than other prominent Layer 1 blockchains.

The network’s security is bolstered by Move, a programming language designed to prevent re-entrancy attacks and enhance contract safety. Additionally, PACT Protocol utilizes BitGo for custody and compliance, supporting over 1,500 institutional clients across 50 countries.

Migration Details and Future Prospects

The migration involves the transition of the PACT token to the Aptos Network. Existing PACT holders will have the opportunity to migrate their tokens via an official 1:1 token bridge, with instructions to be provided soon. While the Celo PACT token will continue to support ongoing initiatives, future governance and ecosystem development will occur on Aptos.

Community members participating in the migration will benefit from Aptos’ enhanced infrastructure, broader institutional adoption, and continued ecosystem growth. This strategic move marks a significant milestone in global finance, showcasing how blockchain technology can enhance accessibility, efficiency, and trust in credit markets.

The full announcement can be found here.

Why This Matters: Impact, Industry Trends & Expert Insights

The PACT Protocol’s migration to the Aptos Network is set to transform global credit markets by enhancing speed, transparency, and efficiency, potentially unlocking access to credit for billions worldwide.

According to a Finextra report, the integration of blockchain technology into credit markets is a growing trend. This involves the tokenization of real-world assets, which enhances liquidity and accessibility. The PACT Protocol’s move to Aptos aligns with this trend by enabling on-chain credit operations that can transform traditional finance.

Insights from Business Insider highlight the significance of this migration. Ash Pampati, Head of Ecosystem at Aptos, emphasized that the partnership expands financial access to underserved populations, enhancing the Aptos ecosystem and beyond. This supports the anticipated impact of the PACT Protocol’s migration on global credit markets.

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