Partior Raises $60 Million in Series B Funding

Partior, a blockchain payment network supported by major banking institutions including JPMorgan, DBS, and Standard Chartered, has successfully secured $60 million in Series B funding. The funding round was spearheaded by Peak XV Partners and saw contributions from Valor Capital Group and Jump Trading Group. Notably, JPMorgan, Standard Chartered, and existing investor Temasek also participated in this round.

Enhancing Interbank Payment Rails

Partior, a collaborative initiative between DBS, JPMorgan, and Standard Chartered, focuses on creating integrated blockchain-based interbank payment systems for instant clearing and settlement processes. The freshly acquired capital will facilitate the expansion of Partior’s capabilities in intraday foreign exchange (FX) swaps and cross-currency repurchases.

Advancements in Blockchain Technology

The utilization of blockchain technology to streamline banking operations has become increasingly prevalent. JPMorgan’s Onyx network, operational for several years, has successfully processed transactions worth hundreds of billions of dollars. In a recent development, Fidelity…