Partior, a blockchain settlement network, backed by JP Morgan, Standard Chartered, and Temasek, successfully raised $60 million in a Series B funding round led by Peak XV Partners. The funding aims to enhance Partior’s global unified ledger, supporting multi-currency clearing and settlement.
Points
- Partior raised $60 million in Series B funding.
- Funding led by Peak XV Partners.
- Funds to enhance global unified ledger and support new capabilities.
- Integration of additional currencies planned.
- Support from JP Morgan, Standard Chartered, and Temasek.
Partior, a blockchain settlement network backed by JP Morgan, Standard Chartered, and Temasek, announced the successful closure of a $60 million Series B funding round led by Peak XV Partners on July 12. The raised funds are earmarked for advancing the company’s global unified ledger, a blockchain-based bridge facilitating real-time, cross-border, multi-currency clearing and settlement for financial institutions, including banks and payment service providers.
According to Partior, this new funding will enable the development of advanced capabilities such as Intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments. The investment will significantly support Partior’s international network growth and the integration of additional currencies like AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR into its network. Currently, Partior operates with USD, EUR, and SGD.
The latest funding round was spearheaded by Peak XV Partners, an entity that emerged from Sequoia Capital in June 2023 to decentralize its operations. Peak XV Partners represents the Indian and Southeast Asian arm of the former conglomerate.
Shailendra Singh, Managing Director at Peak XV, described Partior’s mission as ambitious and expressed excitement over the funding round:
“Partior is an extremely ambitious attempt to transform global money transfer and settlement amongst banks. It’s a unique approach where multiple banks have come together to catalyse change in this industry. We couldn’t be more excited to join DBS, J.P. Morgan, Standard Chartered, and Temasek, as co-shareholders in this journey.”
解説
- The funding will enhance Partior’s capabilities, making it a significant player in the blockchain settlement space.
- Integration of multiple currencies will facilitate global financial transactions.
- The involvement of major banks and financial institutions underscores the credibility and potential impact of Partior.
- Advanced capabilities like Intraday FX swaps and Just-in-Time payments will improve efficiency in financial settlements.