• Hitachi Payment Services has made a minority investment in Spydra Technologies that specializes in enterprise blockchain technology.
• The move is aimed at leveraging blockchain innovation to enhance security and expand accessibility in digital payments.

Mumbai, February 11, 2025: Hitachi Payment Services, a leading end-to-end payments and commerce solutions provider, today announced a strategic minority investment in Spydra Technologies to develop and introduce innovative offerings in the rapidly evolving domains of Web 3.0, Central Bank Digital Currency (CBDC) and Blockchain Technology.

Spydra’s extensive expertise in enterprise blockchain solutions aligns with Hitachi Payment Services’ commitment to drive innovation in digital payments through groundbreaking technologies. 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.  

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. Furthermore, it will work towards addressing the challenges associated with cross-border payments, leveraging the potential of CBDC implementation for optimizing payments, while reducing costs and enabling instant settlements. CBDC also has the potential to drive financial inclusion by providing secure and accessible digital payment services to the underserved and unserved sections of society.

Commenting on the development, Anuj Khosla, Chief Executive Officer – Digital Business, 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, Spydra Technologies, stated, “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 decentralized solutions, this collaboration is a significant step towards accelerating blockchain adoption in the payment sector.”

The Hitachi Payments Accelerator (HPX) program will identify and mentor fintech startups in domains such as ERP/Billing, Segmented Payment Solutions, Embedded Finance, Issuance, Payments Compliance, Banking as a Service, AI/Gen AI, Core Banking, Web 3.0/CBDC and more.  

Spydra Technologies was co-founded by Manish Tewari and Ashwath Govindan, whose combined expertise in technology and business strategy has been pivotal in shaping Spydra’s innovative approach to blockchain solutions. With its low-code capabilities, the platform enables rapid deployment of secure and compliant blockchain solutions.

About Hitachi Payment Services

Hitachi Payment Services is an end-to-end payments and commerce solutions provider empowering banks and fintechs with a comprehensive array of solutions focused on security, reliability and innovation. Its Digital Payment offerings include POS Solutions, Payment Gateway Solutions, Toll & Transit Solutions, Financial Inclusion Solutions as well as innovative offerings such as UPI Solutions including Soundbox, SoftPOS, Value Added Services, AI & ML based solutions and next-gen mobile based merchant platform. A pioneer in the digital payments space, it caters to over 3 Mn merchant touch points and processes over 7 Mn digital transactions daily. 

For more information on Hitachi Payment Services, please visit the company’s website at https://www.hitachi-payments.com/

About Spydra

Spydra is a low-code enterprise blockchain platform specializing in real-world asset tokenization. Spydra enables asset owners and issuers to seamlessly tokenize and manage their assets on-chain, offering customizable solutions for equity, debt, and hybrid financial products. The platform supports both permissioned and public blockchain networks, allowing flexibility in compliance and transparency requirements. It integrates with various payment systems, supports custodial and non-custodial options, and facilitates secondary market trading. Beyond unlocking new liquidity streams, Spydra’s asset tokenization solutions enhance traceability and transparency, making them valuable for industries requiring rigorous supply chain verification and auditability.

For more information on Spydra, please visit the company’s website at https://www.spydra.app/

For more details, please connect with:

Lovina Parmar
Account Director, Avian WE
Email – lovinap@avianwe.com
Phone: +91 7387942608