Bank

Million

Standard

Valor

Partior, a fintech settlement firm, renowned for its financial service expertise has recently announced a remarkable milestone in its funding trajectory.
The firm revealed it has successfully reeled in a whopping $60 million in its Series B funding round. This impressive feat was orchestrated by Peak XV Partners along with new investors like Valor Capital Group and Jump Trading Group.&nbsp;
The firm was originally established by finance giants such as JPMorgan, DBS, and Sematek in 2021. Together, the trio including Standard Chartered had received support to make the funding series a success.&nbsp;
<h2 id="b-plans-for-partior-funding-b">Plans For Partior Funding</h2>
In a blog post, the firm revealed its plans to use the funding to support the company’s global unified ledger.&nbsp;
Primarily, the ledger acts as a blockchain-based bridge that facilitates real-time, cross-border, multi-currency clearing and settlement for financial institutions like banks and payment service providers.
Investing the funding into the ledger will bolster Partior’s international network expansion and the incorporation of additional currencies aside from its current operations on USD, EUR, and SGD.&nbsp;
The successful closure of this second funding batch is a testament to the firm’s strong position in the industry. It also validates its potential in the crypto space and solidifies its future growth plans.
<h2 id="b-funding-trends-in-the-crypto-industry-b">Funding Trends in the Crypto Industry&nbsp;</h2>
Serval crypto firms often raise funds for different purposes, but majorly it is to drive innovation and expand their operations in the crypto industry.
Earlier this month, UniSat Wallet, the largest Bitcoin Ordinals and BRC-20 secured a substantial, though not undisclosed amount in its <a href="https://thecoinrise.com/unisat-wallet-closed-its-funding-round-led-by-binance-labs/" rel="noopener noreferrer nofollow">Pre-A funding round led by Binance Exchange.&nbsp;</a>
Notably, <a href="https://thecoinrise.com/morgan-creek-digital-launches-500m-fund-to-revolutionize-web3/" rel="noopener noreferrer nofollow">Morgan Creek Digital recently mulls an ambitious plan to raise $500 million</a>. It claims the funding will be used for revolutionizing the Web3 world.&nbsp;
<h2 id="b-cross-border-payments-revolutionizing-the-digital-world-b">Cross-Border Payments Revolutionizing the Digital World&nbsp;</h2>
Partior was launched to streamline cross-border payments, trade transactions, and foreign exchange settlements by minimizing friction and delays.
Similarly, it was reported recently that Russia is considering the idea of incorporating stablecoin into its upcoming legislative bill. This will potentially <a href="https://thecoinrise.com/russia-mulls-over-stablecoin-legislation-for-cross-border-payments/" rel="noopener noreferrer nofollow">pave the way for its official use as cross-border payments in the country</a>.&nbsp;
Notably, the Central Bank Digital Currency had <a href="https://thecoinrise.com/rbi-governor-hints-advantages-of-cbdc-for-cross-border-payments/" rel="noopener noreferrer nofollow">outlined the advantages of cross-border payments </a>during his address at the World Economic Forum in Davos early this year.
The post <a href="https://thecoinrise.com/partior-secures-60-million-in-series-b-financing-round/" rel="noopener noreferrer nofollow">Partior Secures $60 Million In Series B Financing Round</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Partior Secures $60 Million In Series B Financing Round

Table of Contents

TheCoinrise Media

Other articles published on Jul 13, 2024

SEC Approves Ethereum ETFs Soon

3 Hot Meme Coins Ready to Explode: Don’t Miss Out!

OpenAI is reportedly working on a new model codenamed Strawberry

SEC Commissioner Crenshaw’s Renomination in Limbo as Political Landscape Shifts

CBDC News: China & Kazakhstan Sign Collaboration Agreement

Bitcoin Price Trajectory Remains Bearish, $49,000 Liquidity Zone Looms As Next Downside Target

Join our free newsletter for daily crypto updates!