Tech Mahindra wants to provide U.S. banks with a stablecoin solution after the OCC authorized federally chartered banks to use stablecoins for settlement in January.Indian multinational technology firm Tech Mahindra is developing a new stablecoin service targeting banks and financial institutions.
As part of the strategic collaboration, Tech Mahindra will help customers integrate Quantoz’s Nexus transaction processing platform into their legacy infrastructure. The platform supports both fiat and cryptocurrencies, offering multiple functions including remittances, payments, loyalty and treasury management.
The new partnership marks another milestone in Tech Mahindra and Quantoz’s cooperation as the companies previously collaborated on blockchain-based digital payments. “We look forward to bringing our solution to new U.S. customers together with Tech Mahindra as we have previously successfully cooperated on other projects,” Quantoz chief business development officer Henri de Jong said.