India's IT services giant Tata Consultancy Services have launched a new financial instrument for Indian institutional investors called Quartz Smart Solution which will allow high-end investors to buy and sell cryptocurrencies.
The Quartz, The Smart Ledgers are targeted at helping organizations across multiple domains leverage blockchain meaningfully for their businesses.
Quartz, The Smart Ledgers comprises of:
- 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 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 which easily integrate existing applications with blockchain ecosystems/networks
- Quartz Command Center – Solutions that facilitate administering and monitoring of the entire ecosystem
Sumit Gupta, CEO of India's largest crypto exchange by volume CoinDCX, commented on what this means about the demand for crypto in India, the future of the Indian crypto market, and what it'll take to move the industry forward.
“Today, Tata Consultancy Services — India’s largest IT services company — announced the launch of Quartz Smart Solution, providing Indian financial institutions with a crypto trading offering. The first of its kind for financial institutions in the country, TCS’ new offering is a strong signal to the enormous potential of the cryptocurrencies and digital assets space in India. As the largest crypto exchange in India, we have seen a lot of growth and interest in the sector — both from a new user and trading volume perspective — since the Supreme Court of India lifted the Reserve Bank of India’s banking ban on crypto.”
“Even though the RBI has yet to develop hard regulations around crypto, TCS must have seen increasing demand in the Indian space, directly from their banking and investment firm clients, for such products. While the inception of such products shows that established financial institutions believe crypto will be part of the financial ecosystem, the right way forward will require smart and sensible crypto regulations. I am deeply encouraged by today’s news and it looks extremely promising for the Indian crypto industry.”
Crypto assets and tokenized securities have the potential to revolutionize the way investments are made and, in the process, democratize access, enhance liquidity, increase market efficiency and open transparency. But as these disruptive technologies evolve and pave new ways for sectors to function, how are they influencing the world of finance as we know it? And how can organizations benefit from including Crypto assets and tokenized securities in their product strategies?
Tata is taking the reins in India — bringing digital asset trading and investment to the countries' top investment groups.
Also published on Medium.