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Hitachi Payment Services announces investment in Spydra Technologies Hitachi Payment Services announces investment in Spydra Technologies

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Hitachi Payment Services announces investment in Spydra Technologies – Crypto News

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Hitachi Payment Services, a prominent provider of end-to-end payment and commerce solutions, has made a strategic minority investment in Spydra Technologies.

This collaboration aims to introduce innovative solutions in Web 3.0, Central Bank Digital Currency (CBDC), and blockchain technology.

Spydra’s expertise in enterprise blockchain solutions aligns with Hitachi Payment Services’ mission to advance digital payments through emerging technologies. This investment falls under the Hitachi Payments Accelerator (HPX) Program, which fosters partnerships with fintech startups to address the evolving needs of businesses, merchants, and consumers.

Hitachi Payment Services intends to improve security, transaction efficiency, and fraud risk management by incorporating blockchain technology into its payment infrastructure. The partnership will also explore the potential of CBDCs to streamline cross-border payments, cut costs, and enable instant settlements. CBDCs have the potential to improve financial inclusion by providing secure digital payment solutions to underserved communities.

Anuj Khosla, CEO – Digital business at Hitachi Payment Services, said: “At Hitachi Payment Services, we strive to introduce transformative technologies and solutions that enable superior payment experiences. Blockchain is the cornerstone of the next wave of financial innovation and our investment in Spydra reflects our commitment to advancing digital payment innovation. By leveraging Spydra’s blockchain and CBDC capabilities, we are well-positioned to develop secure and cutting-edge digital payment solutions that empower our customers to thrive in an evolving digital landscape. Through the HPX Program, we aim to collaborate with disruptors in the fintech and payments segment, driving the next phase of growth and innovation in digital payments.”

Manish Tewari, co-founder of Spydra Technologies, said: “Our enterprise blockchain solutions are designed to offer scalability, security and efficiency across industries. By partnering with Hitachi Payment Services, we aim to bring innovative solutions that reshape the future of payments and commerce. As government and financial institutions in India move towards embracing blockchain-powered digital currencies and decentralised solutions, this collaboration is a significant step towards accelerating blockchain adoption in the payment sector.”

The HPX Program will mentor and invest in fintech startups across important areas, including ERP/Billing, Segmented Payment Solutions, Embedded Finance, Issuance, Payments Compliance, Banking as a Service, AI/Gen AI, Core Banking, and Web 3.0/CBDC.

Spydra Technologies, co-founded by Manish Tewari and Ashwath Govindan, uses a low-code platform that enables the rapid deployment of secure, compliant blockchain solutions, establishing itself as a key player in the evolving digital payments ecosystem.

(Photo by Unsplash)

See also: Ondo Finance introduces layer-1 blockchain to bridge traditional finance and DeFi

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Tags: blockchain, investment, Web3

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