Hitachi Payments, the Indian subsidiary of the Japanese IT giant, has made a strategic investment of an undisclosed amount in Spydra. The startup targets real world asset tokenization on both public and private blockchains, with particular expertise in enterprise blockchain Hyperledger Fabric. The purpose of the collaboration is for Hitachi to introduce innovations in “Web 3.0, Central Bank Digital Currency (CBDC) and Blockchain Technology.”
Looking at Hitachi Payments expertise, it provides a wide range of solutions to banks and payment providers including ATM services, point of sale (PoS) services to merchants, and offerings linked to India’s payment system UPI.
One of its main interests in Spydra is the potential for Indian CBDC solutions, both for cross border payments and financial inclusion initiatives. It’s also looking to deploy blockchain in its payment infrastructure to enhance security and reduce fraud. Spydra is already a participant in the Hitachi Payments Accelerator (HPX).
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