Mphasis and CrossTower partner to develop a ‘Center of Excellence’ in Web 3.0 and Blockchain technologies


Mphasis (BSE: 526299; NSE: MPHASIS), an information technology (IT) solutions provider specializing in cloud and cognitive services, today 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 application of 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 also led to financial and non-financial institutions too including them in their strategic planning.

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

“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 Decentralized 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,” said Kapil Rathi, CEO and Co-Founder, CrossTower.

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.

Mphasis’ partnership with CrossTower is a milestone in the digital assets industry, as it is the amalgamation of technologies’ ‘Next Applied’ innovation for future, with globally ranked #4 for in the world by CryptoCompare as crypto exchange to build a safer, smarter, and wider scope for Web 3.0.


SFOX adds CrossTower to its institutional platform


CrossTower, one of the world’s fastest growing crypto investment and trading firms, today announced that it has joined the SFOX platform.  SFOX is the independent digital assets prime broker providing institutional traders and investors with access to global crypto markets from a single account.

“Increasingly, our clients are requesting access to multiple platforms with strong reputations and the ability to support diverse assets and strategies, such as our robust pairs offerings,” said Bryan Christian, CrossTower’s Head of Exchange.  “We are pleased to join the SFOX platform to broaden our distribution and SFOX’s commitment to regulatory and operational compliance makes them a great partner for us.”

“As one of the only agnostic prime dealers in the crypto space, we have a responsibility to source, collate & curate the best liquidity on behalf of our institutional clientele. Adding CrossTower to our router contributes to unique pricing skews and ultimately better price discovery for our clients block or top-of-booking trading,” says SFOX Head of Execution Services, Shawn Egger.

SFOX offers one of the only end-to-end (custodial & execution) venues in the world for institutions and is built to meet the high standards they require, both internally and from regulators. SFOX connects to exchanges, banks, OTC and other liquidity providers around the world so clients can access global liquidity and best price execution from one account. SFOX has seen explosive 18x growth year over year in 2021 in hedge fund volume. SFOX offers 10X deeper liquidity compared to other market makers, OTC desks and centralized exchanges and the like.

During the first half of 2021, CrossTower has continued its exponential growth with increased trading volumes, a new capital markets desk and a new financing business. The firm has also made a series of senior executive hires, including former Goldman Sachs executive Cory Thackeray as CFO. CrossTower has received the highest (AA) ranking from CryptoCompare in the latest Exchange Benchmark.