Publicly listed deep sea mining firm Apollo Global Capital, Inc. (APL) has tapped BayaniChain Tech, Inc., a local blockchain company, to explore potential ventures that will support Apollo’s digital expansion and advance blockchain adoption in the country.

The holding firm said Monday that the signed memorandum of understanding (MOU) establishes a framework for discussions on a possible merger, acquisition, equity investment, joint venture, or other mutually beneficial strategic partnership between the two firms.

“Blockchain’s evolution—now faster and smarter through AI integration—is driving its adoption into finance, supply chain, and healthcare, aligning perfectly with our digital business expansion plans,” APL said in a disclosure on Monday.

APL said the tie-up supports its push to integrate emerging technologies across its portfolio businesses.

Founded in 2021, BayaniChain specializes in blockchain solutions that promote decentralized verification, aimed at creating more secure, efficient, and transparent systems for organizations.