December 4, 2022

Part-CEO Jason Thompson

Partior, a blockchain-powered cross-border payments and value exchange, has closed its Series A funding round led by Standard Chartered.

Existing shareholders DBS, JP Morgan and Temasek also participated.

The transaction, details of which were not disclosed, is subject to regulatory approvals and other customary closing conditions.

The investment will help strengthen Partior’s vision and drive for broad adoption of atomic settlement and clearing. The company recently announced its product expansion for 2023 and opened its R&D center in Hyderabad after atomizing cross-border value movements last October.

Jason Thompson, CEO of Partior, said: “Our vision has always been to transform global payments and become the global ledger for financial institutions to exchange value. Standard Chartered is one of the most established international banks in the industry and a strategic partner to diversify our network and scale the delivery of our technology globally.”

Also Read: “Trade and Supply Chain Sector Will Witness Unprecedented Blockchain Adoption”: #dltledgers

Partior was formed as an independent company last year by JP Morgan, DBS and Temasek.

The company, supported by the Monetary Authority of Singapore, aims to make digital clearing and settlement more efficient, reliable and secure for financial institutions worldwide. It leverages the core characteristics of blockchain and smart contracts (programmability, immutability, and traceability) to address longstanding industry vulnerabilities.

With Standard Chartered joining the Partior network, it will act as one of the integrated euro settlement banks. This creates synergies and strengthens Partior’s plan to scale its offering globally. Partior is on track to offer its currency offerings in USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD.

On the other hand, the investment will deepen Standard Chartered’s blockchain innovation capabilities to build a more transparent, efficient and secure infrastructure for global value movements. It will also further accelerate the use of blockchain technology in its global financial network for wholesale payments and settlements, and scale Partior’s technology delivery to global capital markets.

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Blockchain-powered value exchange Partior’s post-Standard Chartered Leads Series A round appeared first on e27.