Tata Consultancy Services’ Solution Helps Market Infrastructure Institutions, Custodians and Wealth Management Firms Bridge the Gap Between Traditional and Tokenized Assets
LONDON | MUMBAI, December 06, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that its Quartz for Markets solution was named the Outstanding Innovation of the Year at the Industry Excellence Awards instituted by the Asset Servicing Times.
Quartz for Markets helps firms service the digital asset lifecycle across business functions including issuance, custody and asset servicing by integrating with existing IT landscapes seamlessly. The solution comes with configurable templates for a wide array of tokenized assets, allowing the issuer community to raise capital from a diverse investor base across markets, while allowing for diversification of investment portfolios. The solution provides sophisticated custody models, including omnibus, segregated and proprietary holding models along with institution-grade security features. Built on the premise of co-existence, integration and interoperability, it enables firms to fast track their innovation and growth strategy by easily adding new age tokenized assets to the traditional set of assets they manage.
“The Asset Servicing Times Industry Excellence Awards are dedicated to supporting and recognizing talented and dedicated firms, individuals and departments across the financial services industry. We work with The Securities Services Advisory Group (TSSAG), a forum for independent thought leadership to shortlist and judge the winners. We commend Tata Consultancy Services’ Quartz for winning the Outstanding Innovation award. The nomination was about how blockchain is being deployed in a purpose-driven, meaningful manner by market infrastructures institutions, custodians, banks and other players offering services around traditional as well as tokenized securities,” said Justin Lawson, Co-founder and Publisher, Asset Servicing Times.
R Vivekanand, President, BFSI Products & Platforms, TCS, said, “We are delighted to receive this innovation award for Quartz. TCS has been continuously investing in creating next-gen solutions that leverage cutting edge technology. Our Quartz solution is architected on the premise that tokenized digital assets will coexist with conventional assets, and enables clients to drive differentiation and growth. The solution builds on TCS’ position as one of the leading providers in the market infrastructure and asset servicing space.”
Quartz for Markets offers end-to-end next generation services around tokenized securities to drive future growth for MIIs including exchanges, depositories, central banks, payment infrastructures, as well as private banks, custodians, and issuers. The solution offers a comprehensive set of services for managing tokenized and digital assets including issuance, custody, secondary market trading, settlement, and surveillance. It supports digital asset servicing, including eVoting/general meeting services.
Quartz for Markets provides a choice of settlement in fiat currencies, cryptocurrencies, stable coins and digital currencies, including multiple token standards such as ERC/R3 token SDKs and can be deployed on-premise or in a SaaS model. It also provides robust security features including key management capabilities using Thales HSM, as well as Multi Party Compute (MPC) to safeguard wallet operations.
About Quartz – The Smart Ledgers™
Quartz comprises Smart Solutions, a set of ‘designed for blockchain’ business offerings for different industries; Ledgers, Off-the-shelf ledger structures, functions, and APIs for business processes across various domains; the DevKit, a smart contract development kit to enable programming of high-quality code on multiple blockchain platforms; the Gateway & Command Center for the integration of existing solutions with blockchain ecosystems and their administration and supervision. 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 Quartz, you can facilitate the creation of a complete decentralized 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 (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™ 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 616,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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 MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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