India & Sweden to deploy Quartz solution for offline CBDCs [Video]

India’s largest information technology service provider, Tata Consultancy Services (TCS), has entered into a partnership with deep tech company, Crunchfish for central bank digital currency (CBDC) projects around the world.

The partnership between Crunchfish and TCS will augment the Quartz solution for CBDCs with offline payments enabled by Crunchfish’s patented Digital Cash solution. In 2022, TCS said that it had enhanced its award-winning Quartz solution to allow central and commercial banks to support the CBDC issuance, bookkeeping, and transactions.

“We will work closely with TCS to promote solutions to central banks and other parties that require secure, scalable, and resilient solutions in the backend as well as the frontend,” Joachim Samuelsson, chief executive of Crunchfish, said.

“Offline payment availabilityis considered essential in CBDC projects to enable cash-like functionality in digital form. …