Partior is a blockchain-based settlement network and fintech company based in Singapore. The company recently announced the official closing of a Series B funding round, raising $60 million.
Indeed, the funding round was led by Peak XV Partners, with investors such as DBS, JP Morgan, Standard Chartered, and Temasek also participating. Furthermore, new investors like Valor Capital Group and Jump Trading Group were present as well.
Enabling Faster and Smoother Cross-Border Payments
Partior was founded in 2021 by JP Morgan, DBS, and Temasek. Partior’s mission is to simplify and accelerate cross-border payments for commercial transactions and foreign exchange settlements.
The company relies on blockchain technology for this, enabling banks and payment service providers to settle and clear transactions in real-time across multiple currencies. This new type of funding will allow Partior to advance its global distributed ledger.
Through this, it aims to introduce new features, including intraday foreign exchange swaps, currency repos, programmable liquidity management, and real-time multi-bank payments. Additionally, this will support the company’s international expansion by adding new currencies to its system. With this funding, Partior plans to expand its range of supported currencies.
The following currencies will be added: AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR to its network, which already supports USD, EUR, and SGD.
A Radical Change in the Landscape of Cross-Border Payments
Indeed, Partior represents an extremely ambitious attempt to transform money transfers and international settlements between banks. It is a unique approach where multiple banks work together to catalyze change in this sector.
Moreover, Partior’s $60 million Series B funding positions the company as a major player in transforming the landscape of cross-border payments. Armed with its innovative technology and support from leading investors, Partior is well-positioned to simplify, accelerate, and secure international transactions for businesses and financial institutions worldwide!
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