Indian IT Giant TCS to Help Financial Institutions Offer Cryptocurrency Trading

A few hours back, Indian IT heavyweight, Tata Consultancy Services, announced the launch of Quartz™ Smart Solution for Crypto Services. The offering will help banks and other financial institutions provide ‘secure and seamless’ crypto trading facilities to their clientele.

IT Giant TCS is Spearheading Crypto Adoption

As per the official press release, Tata Consultancy Services’ new crypto services solution will allow banks and financial firms to enable investments and portfolio diversification into crypto assets for their clients.

“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.” – Read a statement

It seems TCS is leaving no stone unturned in making crypto investment opportunities available to a wider section of potential investors. The company has addressed every technical detail to make the experience count. And how?

TCS’ Smart Crypto Solution is Actually Smart

TCS’s novel crypto offering has an in-built has a hardware security module that enables cryptographic signing of each transaction, thereby ensuring security and authenticity.

The IT corporation has ensured that the system is integrated with multi-signature wallets and an authorization engine to enable configurable transaction approval policies, blockchain forensic checks, auto reconciliation and compliance alerts, exchange and OTC desk connectivity, and audit capabilities.

Speaking of the announcement, R Vivekanand, Global Head, Quartz, TCS said:

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.

TCS is Seriously Exploring Distributed Ledger Technology

TCS was one of the earliest corporations to realize the groundbreaking impacts of blockchain technology. That’s why the global IT services giant incubated the startup Quartz to provide foundational technology, tools, and business components for creating distributed ledger solutions across varied industries.

According to the official website, Quartz’ ingenious product suite, ‘The Smart Ledgers’ is targeted at helping organizations across multiple domains leverage blockchain meaningfully for their businesses.

The Smart Ledgers offers these solutions:

• Quartz Smart Solutions – A set of ‘Designed for Blockchain’ business solutions across industries.
• Quartz DevKit – Smart contract development kits that enable the development of high-quality code for different blockchain technologies. The Quartz DevKit also comprises of a standard set of architectural features covering security, data privacy, access controls, user management, audit trails, and logging framework represented as Quartz Foundation.
• Quartz Gateway – Solutions that easily integrate existing applications with blockchain ecosystems/networks.
• Quartz Command Center – Solutions that facilitate administering and monitoring of the entire ecosystem.

This article was first published on: Jul 8, 2020