Blockchain
Blockchain Payment Network Partior Raises $60M in Series B Round – DL News
- Partior says it has raised $60 million in Series B funding.
- The blockchain payment network is supported by JPMorgan and Standard Chartered.
Partior, a blockchain transaction network and financial services company, said in a blog post of completing a $60 million Series B investment round led by Peak XV Partners.
Valor Capital Group and Jump Trading Group supported the round, while JPMorgan, Standard Chartered, DBS and Temasek continued to provide support as founding shareholders.
“Partior is breaking down silos and rewriting the rules for cross-border clearing and settlement,” said the company’s CEO Humphrey Valenbreder. “We see a very bright future for frictionless cross-border transactions powered by blockchain. Having some of the world’s best banks and investors supporting our vision only further validates this.”
Traditional cross-border payments face multiple challenges, including delays, high costs, lack of transparency on timeframes, multiple intermediaries, variable processing speeds, and differing compliance standards among correspondent banks.
According to the blog post, Partior’s global unified ledger enables financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border, multi-currency clearing and settlement.
This funding will enable the development of new capabilities, including intraday FX swaps, cross-currency repos, programmable corporate liquidity management and just-in-time multi-bank payments, the company said.
JPMorgan, Standard Chartered and DBS currently use Partior to facilitate payments for their clients.
Companies like Siemens and iFAST Financial have used the Partior platform through Standard Chartered for better access and control of their working capital, 24/7 availability, and faster, smoother payment flows.
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