India: TCS announces new crypto services solution, Quartz
India has an active crypto community with numerous crypto businesses striving to develop the space and work with regulators to form adequate guidelines. After the Supreme Court quashed the Central bank’s banking ban, the crypto businesses got a new lease of life and the country also saw interest from many others to start a new project. Adding to the list of good news in the country, Tata Consultancy Services [TCS] announced on Wednesday the launch of its Quartz Smart Solution to help Financial Institutions offer cryptocurrency trading.
According to the announcement, the solution was designed to support multiple cryptocurrencies and stable coins, digital currencies linked to fiat currencies, trading venues, and public blockchain networks, in order to provide its clients with a vast option in trading and investment strategies. It added:
“Importantly, it can help banks and investment firms offer their customers the ability to transfer payments in the form of ‘digital cash’, and benefit from lower transaction costs and quicker access to liquidity.”
According to the Global Head of Quartz, TCS, R Vivekanand, digital currencies were poised to become viable alternate avenues for investments, hedging, and portfolio diversification. With Quartz TCS will provide trust to the traditional investors to invest in crypto and could lead the crypto journey in the country. Vivekanand 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.”
India has been accepting of blockchain services with open arms, however, suspicion around crypto has persisted for a long time. As the crypto community marched along to provide legitimacy to the business and investment, such a move from the leading global IT services and business solutions organization thursts trust among the investors and probably sway the idea around cryptocurrencies in the country.