TCS Launches Quartz™ Smart Solution to Help Financial Institutions Offer Cryptocurrency Trading

Tata Consultancy Services’ New Crypto Services Solution Allows Banks and Investment Firms to enable investments and portfolio diversification into Cryptocurrencies and Digital Assets for their clients.

MUMBAI, July 8, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), 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.

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.

Quartz – the Smart Ledgers™ solution, redefines how organizations can collaborate in an increasingly connected world, and leverage their collective strengths using distributed technology. The suite comprises Smart Solutions, a set of ‘designed for distributed ledger technology’ business offerings for different industries; the Quartz DevKit, a low code smart contract development kit to enable programming of high quality code on multiple technologies; the Quartz Gateway for the integration of existing solutions with varied ecosystems; and, the Quartz Command Center that can administer and monitor entire ecosystems.

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.

Quartz – The Smart Ledgers

Quartz is a startup incubated by TCS, and provides foundational technology, tools and business components for creating distributed ledger solutions across varied industries.

Built on the core principles of Coexistence, Integration and Interoperability, Quartz enables existing systems to coexist and integrate with blockchain platforms and other messaging networks. With data masking, privacy and anonymity--the premise on which the solutions are designed--organizations can focus on enhancing their core competitive strengths in an environment of utmost security.

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.

To know more about Quartz, please visit: https://www.tcs.com/quartz-blockchain-solutions

About Tata Consultancy Services Ltd. (TCS)

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. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile^TM delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 448,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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