Partior, a Singapore-based blockchain settlement network and fintech firm, has successfully closed a $60 million Series B funding round.
The funding round announced on 12th July was led by Peak XV Partners with participation from Valor Capital Group and Jump Trading Group as well as existing backers DBS, JP Morgan, Standard Chartered, and Temasek.
Partior was founded in 2021 by JP Morgan, DBS, and Temasek to make cross-border payments faster and easier for trade transactions and foreign exchange settlements.
Through the use of its blockchain technology, Partior allows banks and payment service providers to clear and settle transactions across multiple currencies in real time.
According to Partior, this new funding will help Partior enhance its global unified ledger by introducing such new features as intraday FX swaps, cross-currency repos, programmable enterprise liquidity management, and just-in-time multi-bank payments. Moreover, it will also support the firm’s international expansion adding more currencies to its system.
Shailendra Singh, Managing Director at Peak XV Partners, commented on the investment: “Partior is an extremely ambitious attempt to transform global money transfer and settlement amongst banks. It’s a unique approach where multiple banks have come together to catalyze change in this industry.”
With this funding, Partior plans to expand its currency offerings by adding AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR to its network, which already supports USD, EUR, and SGD.
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