Blockchain Payment Network Partior Secures $60M in Series B Funding
Partior, a prominent blockchain payment network supported by major banking institutions including JPMorgan, DBS, and Standard Chartered, has successfully secured $60 million in Series B funding.
The investment round was led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group.
Notably, JPMorgan, Standard Chartered, and existing investor Temasek also joined the funding round.
As a collaborative venture between DBS, JPMorgan, and Standard Chartered, Partior aims to establish a unified blockchain-based interbank payment infrastructure that facilitates instant clearing and settlement.
The latest injection of capital will enable Partior to enhance its capabilities in intraday foreign-exchange (FX) swaps and cross-currency repurchases.
Leveraging blockchain technology to streamline banking processes has become increasingly common in the industry.
JPMorgan’s Onyx network, for instance, has facilitated transactions worth hundreds of billions of dollars since its launch several years ago.
In a recent development, Fidelity utilized Onyx to tokenize shares in a money market fund, further showcasing the practical applications of blockchain-based systems.
The successful funding round for Partior demonstrates the growing recognition and support for blockchain-powered payment solutions within the financial sector.
With the backing of industry giants and the infusion of additional capital, Partior is poised to expand its reach and solidify its position as a leading player in the blockchain payment network space.
Back in April, Fintech giant Stripe announced its decision to once again allow customers to accept cryptocurrency payments after a six-year break.
The company is starting with USDC stablecoins on the
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