Tata Consultancy Services (TCS) has launched a new blockchain-based solution called Quartz for Markets to enable exchanges, financial institutions, and other market infrastructure institutions (MIIs) to innovate with tokenized assets.

Quartz for Markets will help the MIIs in tapping blockchain technology for providing end-to-end next generation services around tokenized securities and drive their growth for the future. The next-generation services that MIIs can offer include KYC/AML, order management, token issuance, atomic settlement, matching, crypto custody, general meeting services, digital asset servicing, and trade surveillance.

The Quartz for Markets solution is said to offer out-of-the-box support for various asset classes which include equity, warrants, fixed income, and asset-backed tokens such as real estate, art, gold, non-fungible tokens (NFTs), and also loyalty points.

Tata Consultancy Services said that investors can take advantage of a choice of settlement in fiat currencies, stable coins, cryptocurrencies, and digital currencies, thereby gaining from liquidity as well as flexibility.

Quartz for Markets has been made available on-premise and also on the cloud.

Tata Consultancy Services said that the blockchain solution has been designed for easy integration and also interoperability with existing core platforms and third-party solutions.

Quartz for Markets can work with public and private blockchain platforms. It is said to support ERC, R3 Token SDKs, and various other token standards.

The blockchain solution includes an intuitive, low code development kit, using which it can be extended to cope up with the future requirements of market infrastructure institutions.

Tata Consultancy Services said that four market infrastructure institutions have signed up so far for Quartz for Markets, and deployment is in progress.

R Vivekanand – Global Head, Quartz, Tata Consultancy Services said: “Tokenization democratizes 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.

“We have leveraged our contextual knowledge and extensive industry experience in capital markets to design a solution that seamlessly serves the needs of a broad spectrum of market players and accelerates their growth and transformation journeys.”

  blockchain technology, Financial Institutions, India, market infrastructure institutions, Quartz for Markets, R Vivekanand, Tata Consultancy Services