Partior, a blockchain payment network supported by financial heavyweights JPMorgan, DBS, and Standard Chartered, has successfully raised $60 million in a Series B funding round. This latest investment round was spearheaded by Peak XV Partners and saw participation from Valor Capital Group and Jump Trading Group, along with continued support from JPMorgan, Standard Chartered, and existing investor Temasek.
Partior, a collaborative effort between DBS, JPMorgan, and Standard Chartered, aims to create unified blockchain-based interbank payment systems for instantaneous clearing and settlement. This initiative reflects the growing trend of leveraging blockchain technology to streamline and accelerate banking processes.
The fresh injection of capital will be directed towards enhancing Partior’s capabilities, particularly in the areas of intraday foreign-exchange (FX) swaps and cross-currency repurchases.
JPMorgan’s Onyx network, which has been operational for a few years, is a testament to the potential of blockchain in financial transactions, having settled transactions worth hundreds of billions of dollars. In a recent notable development, Fidelity utilized Onyx to tokenize shares in a money market fund, showcasing the expanding applications of blockchain technology in traditional finance.
Partior’s continued growth and the backing it receives from prominent financial institutions underscore the increasing acceptance and integration of blockchain technology in mainstream banking.
Disclaimer: The information provided on CoinsLately is for informational and educational purposes only. CoinsLately does not provide investment, financial, or legal advice. The content on this site represents the opinions and views of the authors and should not be considered as professional financial advice.
