Partior, backed by JPMorgan and Standard Chartered, raised $60M in Series B to expand blockchain-based settlement capabilities and integrate ten more currencies.
On July 12, Partior, a blockchain company supported by JPMorgan and Standard Chartered, disclosed that it has completed a $60 million Series B funding round, which Peak XV Partners led. Jump Trading Group and Valor Capital Group also supported the round.
Partior, which employs blockchain-based interbank rails for real-time clearing and settlement, intends to utilize the funds to improve its capabilities, which include intraday foreign exchange swaps, cross-currency repos, and just-in-time multi-bank payments.
Furthermore, Partior intends to incorporate ten additional currencies into its network in addition to the USD, EUR, and SGD that are presently supported.
According to a statement, Partior is also unifying global liquidity by integrating its next-generation settlement technology with digital asset platforms. Humphrey Valenbreder, the CEO of Partior, underscored the company’s dedication to facilitating cross-border transactions.
“Partior 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 world’s best banks and investors back our vision validates this even further,” Valenbreder said.
“Partior’s successful capital raise is a transformative achievement in reshaping the global financial market infrastructure,” according to Pradyumna Agrawal, a managing director at Temasek, one of the blockchain firm’s existing shareholders before the most recent funding round.”
Agrawal affirmed Temasek’s dedication to assisting Partior in establishing “a more efficient and seamless financial ecosystem on a global scale.”
Saurabh Sharma of Jump Trading Group expressed his organization’s satisfaction with the opportunity to participate in Partior’s voyage, which has the potential to revolutionize the global processing of transactions.