TCS – Biggest IT company in India by market capitalization has launched a cryptocurrency trading solution for financial institutions.
A cryptocurrency is a new kind of digital asset based on a distributed network. Blockchains is a method to ensure the integrity of transactional data which is a key component of the majority of the cryptocurrencies.
TCS is well ahead in the crypto competition, and this new Cryptocurrency based solution proves that how TCS is very serious about this digital asset currency and emerging technology.
Here are the 10 important things about this new TCS lead Crypto based Trading solution:
- Tata Consultancy Services (TCS) is calling it Quartz Smart Solution
- Quartz™ Smart Solution for Crypto Services is a next-gen, digitally-powered offering for banks and investment firms to provide secure and seamless cryptocurrency trading clientele.
- The solution can support multiple cryptocurrencies and blockchain networks, providing extra choices and flexibility to its customers for their trading and investment need.
- By using this solution, customers can transfer payments in the form of ‘digital cash,’; it comes with lower transaction costs and quicker access to liquidity
- Quartz Smart Solution for Crypto Services comes integrated with an exemplary hardware security module to enforce cryptographic signing of each transaction and ensuring security and authenticity.
- It comes with various features including in-built authorization engine, auto reconciliation, and compliance alerts, and audit capabilities
- Vivekanand Ramgopal, Tata Consultancy’s head of Quartz, said that “cryptocurrencies are rapidly becoming a viable investment vehicle and that the new solution allows banks to capitalize on the new trend.”
- Sumit Gupta, CEO of Indian crypto exchange said the Indian crypto market has a bright future
- Many Indian companies are trying to take advantage of emerging technologies to beat Covid-19 losses and explore a bigger profitable market.
- A TCS spokesperson told that one customer has already signed up for the solution and “a few more” are close to signing up, without disclosing any names.