TCS climbs on launching a novel blockchain-based solution for market infrastructure institutions

Tata Consultancy Services (TCS), a leading information technology & consulting services company, announced today the launch of ‘Quartz’, a unique blockchain-based solution designed for market infrastructure institutions (MII) to support tokenised assets.  

Tokenisation of assets implies that material as well as digital assets can be turned into tokens and traded at a fraction of the current cost.    

This solution will enable the market participants such as exchanges, depositories, central banks, payment infrastructures, private banks, custodians & issuers, to capitalise on the blockchain technology and support tokenised asset classes. In this way, market institutions can participate in the upcoming token economy, and thereby, drive growth.  

This unique solution offers next-generation services such as know your customer (KYC)/anti-money laundering (AML), token issuance, order management, matching, atomic settlement, crypto custody, digital asset servicing, general meeting services, and trade surveillance. It is available on-premises as well as on the cloud.   

It provides unconventional 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. This provides the advantage of both liquidity and flexibility to the investors as they can benefit from a choice of settlement in fiat currencies, cryptocurrencies, stable coins and digital currencies.  

At 1.47 pm today, the share price of TCS was trading at Rs 3,365.00, which was an increase of 3.15 per cent over its previous day’s closing price of Rs 3,262.10 on BSE.