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Mphasis, CrossTower partner to develop Center of Excellence

FPJ Web Desk | Updated on: Friday, January 21, 2022, 12:07 PM IST

Mphasis' net profit stood at Rs 299.2 crore in the year-ago period, Mphasis said in a regulatory filing.  |
Mphasis' net profit stood at Rs 299.2 crore in the year-ago period, Mphasis said in a regulatory filing. |
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Mphasis, an information technology (IT) solutions provider specializing in cloud and cognitive services, today announced its partnership with CrossTower, 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 application of innovative blockchain based solutions in public and private industries, including financial services, supply-chain, healthcare and life sciences, insurance, logistics, entertainment, art, and retail. The rapid adoption of digital assets has also led to financial and non-financial institutions too including them in their strategic planning.

Nitin Rakesh, CEO and Managing Director, Mphasis, said, “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, “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,” said .

A recent report by Market Research Future (MRFR) predicts that Web 3.0 and Blockchain market is projected to grow exponentially by 2030. Considering the future of Internet, Web 3.0 enables users and developers to use decentralized blockchain technology. This would significantly impact BFSI, e-commerce & retail, media & entertainment, healthcare & pharmaceuticals, IT & telecom, amongst other sectors’ businesses speeding up.

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Published on: Friday, January 21, 2022, 12:07 PM IST