Mphasis and CrossTower partner to accelerate Web 3.0 and Blockchain technologies

By Joy Dumasia

Mphasis, an information technology (IT) solutions provider specialising in cloud and cognitive services, announced its partnership with CrossTower, one of the world’s leading crypto exchanges, to build a Center of Excellence (CoE) focused on Web 3.0 and a series of blockchain-based products that will be launched and traded on the CrossTower platform. 

The partnership between Mphasis and CrossTower will accelerate and scale the Web 3.0 talent within Mphasis, providing new avenues for applying innovative blockchain-based solutions in public and private industries, including financial services, supply-chain, healthcare & life sciences, insurance, logistics, entertainment, art, and retail. The rapid adoption of digital assets has led to financial and non-financial institutions, including them in their strategic planning. 

Nitin Rakesh, CEO and Managing Director, Mphasis, said: “Mphasis has been an early adopter of blockchain technology, building industry-specific solutions around digital assets and, more recently, Web 3.0. We are pleased that we have an opportunity to partner with CrossTower to build a Center of Excellence (CoE). We particularly value this partnership as CrossTower is one of the most regulatory focused players in this space and provides unparalleled governance driven digital assets. Mphasis with its Blockchain capability, expertise in architecting cloud-native platforms and user experience design and implementation, is uniquely positioned to partner with CrossTower.” 

Kapil Rathi, CEO and Co-Founder, CrossTower, said: “CrossTower prides itself for its distinct and superior knowledge of trading, technology, operational infrastructure, innovative pricing, regulations, and compliance to make digital assets accessible to retail and sophisticated institutional market participants. Mphasis’ extensive banking & financial services client base would be able to take advantage of our Decentralised finance (DeFi) and Blockchain solutions. This partnership with Mphasis will catapult our development capabilities and accelerate our growth to provide the best trading platform and ecosystem for both non-traditional and traditional financial services providers to expand beyond traditional asset classes.” 

Recently, IBS Intelligence reported that Mphasis, an Information Technology solutions provider specialising in cloud and cognitive services, 2020 announced a deal with the Specialty Broking Segment of The Ardonagh Group, the UK’s independent insurance intermediary, to transform how they engage with clients, colleagues, carriers and regulators.