Tata Consultancy Services (TCS) announced the general availability of Quartz for Markets, designed to help Market Infrastructure Institutions (MIIs) such as exchanges, depositories, central banks, payment infrastructures, private banks, custodians and issuers, offer end-to-end next generation services around tokenized securities.
Quartz for Markets builds on TCS’ position as the largest independent software provider to MIIs, with its proven TCS BaNCS for Market Infrastructure and Custody solutions powering the operations of over 50 market-critical institutions across 66 countries. The new solution helps MIIs leverage blockchain technology to offer next-generation 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.
The new solution provides out-of-the-box 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.
Quartz for Markets is available on-premise as well as on cloud, and has been designed for integration and interoperability with existing core platforms and third-party solutions. It can work with public as well as private blockchain platforms and supports multiple token standards such as ERC and R3 Token SDKs. 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.
“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,” said R Vivekanand, global head of Quartz at TCS, in a statement.