Hitachi Payment Services picks up stake in Spydra to enhance offerings in Web 3.0, CBDC, Blockchain tech

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Hitachi Payment Services, an end-to-end payments and commerce solutions provider, has announced a minority investment in Spydra Technologies to develop and introduce innovative offerings in the domains of Web 3.0, Central Bank Digital Currency (CBDC) and Blockchain Technology.

Spydra’s expertise in enterprise blockchain solutions aligns with Hitachi Payment Services’ commitment to drive innovation in digital payments through groundbreaking technologies, the company said in a statement.

The investment in Spydra is part of the Hitachi Payments Accelerator (HPX) Program, an initiative aimed at collaborating with fintech startups through partnerships and investments to meet the evolving needs of businesses, merchants and customers, it added.

Through this partnership, Hitachi Payment Services aims to integrate blockchain-powered capabilities into its payment infrastructure, to develop innovative payment solutions, improve payment efficiency, enhance security and reduce fraud, it further said.

Anuj Khosla, Chief Executive Officer – Digital Business of Hitachi Payment Services, said, “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,” he said.

“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,” he added. 

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.”