Tech Giant TCS Launches Cryptocurrency Trading Platform

Tech Giant TCS Launches Cryptocurrency Trading Platform

Indian tech giant Tata Consultancy Services (TCS) has launched a cryptocurrency trading portal catering to financial institutions. TCS is one of the most valued firms by market capitalization and is held by Tata Group, India’s multinational business conglomerate.  

Zoom Out: Earlier this year, the Supreme Court of India removed the cryptocurrency trading ban imposed by Indian national bank RBI. Since that announcement, reports indicate that the crypto trading volume in India continues to soar. According to a recent report, trading volumes have increased as much as 400% on Indian cryptocurrency exchanges in these last few months. 

TCS’s Crypto Trading Solution

In July, TCS announced its cryptocurrency enterprise solution known as Quartz Smart Solution, which enables banks and financial institutions to offer cryptocurrency trading to their customers. Quartz is designed to facilitate clients of investment firms looking to diversify their investment portfolio with cryptocurrencies and other digital assets. 

 

According to the announcement, Quartz is designed to support multiple cryptocurrencies, stable coins, trading venues, and blockchain public networks. Moreover, TCS emphasizes that Quartz will facilitate a robust and secure network for transfers of digital assets. This network further enables banks to offer their clients a secure platform for payment transfers with lower transaction fees. 

 

Quartz Smart Solution is one of several platforms that enable various solutions empowered by blockchain technology. Other solutions include Smart Ledgers and Devkit, a smart contract development kit. 


Looking Ahead: The Tata Group is heavily invested in developing solutions pertaining to the crypto and blockchain sphere. As per the announcement, the collective Quartz kit caters to organizations across multiple industries including financial services, banking, supply chain, energy and utilities, and eGovernance.

Author’s Posts