Tata Consultancy Services from India Launches DLT based Cryptocurrency Trading Solution
CBW -External Analyst
Aug, 21 2020
Major Indian IT Company TCS has announced the launch of its crypto trading solution dubbed as “Quartz” for its financial institutional clients. By deploying this smart crypto services solution, the banks and investment firms can now facilitate their clients to diversify their portfolios into cryptocurrencies investment and trading.
What is Quartz?
Quartz is the next-gen smart solution for crypto services that offers secured and seamless cryptocurrency trading. It supports multiple cryptocurrencies and stable coins, digital currencies linked with fiat currencies, public blockchain networks, and trading locations.
Moreover, it offers a digital cash transfer facility to the clientele of the financial institutions along with lower transactional charges and quick access for assets liquidity.
Quartz is a set of distributed ledger technology solutions designed to serve various industries. It can be integrated with the existing business ecosystems and provides close monitoring and assistance from its Command center.
R Vivekanand, Global Head, Quartz, TCS elaborated:
“Cryptocurrencies, digital fiat currencies, and digital assets are poised to become viable alternate avenues for investments, hedging, and portfolio diversification. Progressive financial institutions are looking to provide these options to their clientele. We are excited to offer then our robust secure and scalable solution for trading, storing, and transfer of these assets.”
He further added, “We believe Quartz is well ahead of the curve in providing such a solution that allows customers to transact in multiple cryptocurrencies and digital assets backed by best-in-class security features.”
The rapid growth of crypto ecosystem in India
Though the Indian government is still ambiguous about crypto policies and the Central bank- Reserve Bank of India is reluctant towards the growing significance of the crypto ecosystem in India, the winds of crypto approval are propelling the entire ecosystem. Local crypto exchanges have been reporting high trading volumes with a growing number of entrants. Recently top global exchange Binance has entered into the Indian scenario by the acquisition of the WazirX exchange platform.
More about Tata Consultancy Services (TCS) Ltd.Tata Consultancy Services (TCS) is the technological subsidiary Tata group which is India’s largest multinational business group. TCS provides consulting and business services solutions. It is operational in 46 countries with more than 4 lakh employees.
The information provided through the above Content is for informational purposes only. The Content is not intended to be, and does not, constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. We do not make any guarantee or other promise as to any results that may be obtained using our Content. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses.