Tata Consultancy Services, a leading global IT services, consulting, and business solutions organization, announced the launch of its Quartz Smart Solution for Crypto Services, a next-gen, digitally powered offering for banks and investment firms to provide secure and seamless cryptocurrency trading to their clientele.
TCS said that the solution is designed to support multiple cryptocurrencies and stable coins, digital currencies linked to fiat currencies, trading venues and public blockchain networks, thus offering choice and flexibility to customers when deciding their trading and investment strategies. 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.
Quartz Smart Solution for Crypto Services comes integrated with a best-in-class hardware security module that enables cryptographic signing of each transaction, thereby ensuring security and authenticity. With state-of-the-art features such as multi-signature wallets with an in-built authorization engine that enables configurable transaction approval policies, blockchain forensic checks, auto reconciliation and compliance alerts, exchange and OTC desk connectivity and audit capabilities, among others, it ensures that a transaction is executed only after proper validation as well as authorization by the user.
“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 them our robust, secure and scalable solution for trading, storing and transfer of these assets. 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,” said R Vivekanand, Global Head, Quartz, TCS.
“Together, these solutions can help organizations set up truly connected ecosystems delivering real-time, efficient transaction processing based on a single source of truth on the ledger. The solutions can coexist with existing systems, support multiple technologies, and facilitate seamless integration with ecosystem participants,” TCS said in its press statement.
Quartz is a startup incubated by TCS, and provides foundational technology, tools and business components for creating distributed ledger solutions across varied industries.
“With Quartz, you can also facilitate the creation of a complete distributed ledger ecosystem for stakeholders in your value chain. Quartz caters to organizations across Industry segments including Financial Services, Banking, Supply Chain, Energy & Utilities and eGovernance,” TCS added.
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
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