Indian multinational information technology service Tata Consultancy Services (TCS) Limited has announced the launch of its own institutional-focused cryptocurrency platform called Quartz Smart Solution.
According to an official announcement, the platform is focused on supporting various cryptocurrencies and stablecoins, trading venues and public blockchain network.
Tata hopes the platform can help financial institutions and investment firms offer their clients the ability to send payments in virtual assets and benefit from lower transaction fees and quicker access to liquidity.
The Global Head at Quartz, Vivekanand Ramgopal, says digital assets and stablecoins "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," Vivekanand added.
India's regulatory uncertainty still harm the whole industry of cryptoassets as its watchdogs including the Securities and Exchange Board of India (SEBI), Reserve Bank of India and the Ministry of Finance still have no clear and common position on how to regulate the market.
iHodl previously reported that Managing Director of South Asia and EMEA at Ripple, Navin Gupta, thinks India is "under-living its potential" as it is trying to ban technologies that could potentially solve "decade-old problems."
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