Having launched its Quartz blockchain solution last year, world’s largest IT company (by market capital) Tata Consultancy Services (TCS) has now come up with Quartz for Markets in order to further solidify its position in the global blockchain market.
Quartz For Markets will help Market Infrastructure Institutions (MIIs) such as exchanges, depositories, central banks, payment infrastructures, private banks, custodians and issuers, and offer end-to-end services around tokenised securities.
TCS’ Quartz allows banks and financial investment firms to enable investments and portfolio diversification into crypto for their clients. The latest solution Quartz for Markets will help MIIs leverage blockchain technology to offer services around tokenized securities, such as KYC/AML, token issuance, order management, matching, atomic settlement, crypto custody, digital asset servicing, general meeting services and trade surveillance, said the company in a statement.
The solution includes an intuitive, low code development kit, with which it can be extended to meet the MII’s future needs. Four MII’s have already signed up for Quartz for Markets, and deployment is currently underway.
Commenting on the launch, R Vivekanand, global head, Quartz, TCS said, “Tokenisation democratises access to assets by turning material as well as digital assets into tokens that can be traded at a fraction of the current cost. This represents an opportunity for MIIs to launch innovative new services around tokenized assets, attract new classes of investors and drive growth. Quartz for Markets is a robust, secure and future-proof solution that can support the end-to-end transaction life cycle and instant settlement for a wide range of tokenized assets, including NFTs, which are gaining in popularity and value.”
Quartz For Markets Supports Multiple Asset Class, NFTs
TCS BaNCS has been popularly used by banks and investment firms across the world. Quartz was initially developed in order to meet their increasing demands. With this solution, investment firms and banks have a seamless way to cater to their clients including crypto assets. The new solution provides support for multiple asset classes, including equity, fixed income, warrants, and asset-backed tokens like real estate, gold, art, non-fungible tokens (NFTs) as well as loyalty points. Investors can benefit from a choice of settlement in fiat currencies, cryptocurrencies, stable coins and digital currencies, thus gaining from both liquidity and flexibility.
The solution has been designed with interoperability features i.e. it will allow integration of existing core platforms and third-party solutions and can work with the public as well as private blockchain platforms. Quartz For Markets supports multiple token standards such as ERC and R3 Token SDKs.