CrossTower, the crypto and digital asset exchange with an office in Bermuda, has partnered with Mphasis, the India-based information technology solutions provider specialising in cloud and cognitive services.

Mphasis said the two companies have joined forces to build a centre of excellence focused on Web 3.0 and a series of blockchain-based products that will be launched and traded on the CrossTower platform.

It added that the two companies are to co-invent industry-specific technical and operations solutions for digital assets, decentralised finance, cryptocurrencies and Web 3.0, and co-create innovative, future-ready blockchain-based solutions to overcome the current challenges in public and private industries across multiple verticals globally.

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 centre of excellence. 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 and financial services client base would be able to take advantage of our decentralised finance 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."

Founded in 2019, CrossTower has offices in the US, Bermuda and India.