TCS launches solution to help central banks in use of digital currencies

As major central banks work towards roll-outs of digital currencies, India’s largest software exporter TCS on Tuesday announced a solution which will aid in their roll-outs and usage.

The Tata Group company has enhanced its blockchain solutions platform Quartz to enable central and commercial banks to support the entire lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions.

The company’s president for banking, financial services and insurance products and platforms, Vivekanand Ramgopal told PTI that having the capability was fundamental to TCS, which counts on the BFSI (Banking, Financial Services and Insurance) segment as its largest business vertical.