Partior Raises $60M to Advance Blockchain Clearing & Settlement

JPMorgan-backed Partior raises $60 million to transform ledger-based clearing and settlement.

Money being handed down from the sky.
Created by Gabor Kovacs from DailyCoin
  • Partior has concluded its Series B funding round.
  • The company raised tens of millions.
  • The funding will โ€œtransformโ€ global clearing and settlement through blockchain technology.

Singapore-based blockchain payment fintech Partior announced Friday the close of its multi-million series B round led by Peak XV Partners (formerly Sequoia Capital India & SEA).

Banking giants JPMorgan and DBS teamed up with Singapore state investor Temasek and founded Partior in 2021 to improve cross-border payments. The company rose to prominence and attracted other corporate affiliations, including Standard Chartered, which joined Partior as a โ€œstrategic backerโ€ in 2022.

Partiorโ€™s $60M Funding

In a press release on July 12, Partior said it had raised $60 million in the round to โ€œtransformโ€ clearing and settlement infrastructure worldwide.

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The company will use the funding to further develop its ledger-based interbank rails for real-time clearing and settlement and enrich them with new features, such as intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments.

Per the statement, the investment will also support Partiorโ€™s international network growth, allowing the company to integrate additional currencies into its network: AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. The company currently supports USD, EUR, and SGD currencies.

โ€œPartior is breaking down silos and rewriting the rules for cross-border clearing and settlement. We see a very bright future for blockchain based frictionless, cross-border transactions. Having some of the worldโ€™s best banks and investors back our vision validates this even further,โ€ Partior CEO Humphrey Valenbreder stated.

The round attracted participation from Valor Capital Group and Jump Trading Group.

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Author
Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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