Standard

Tornado Cash

Tornado

Partior, a blockchain settlement network and financial services startup backed by JP Morgan, Standard Chartered, and Temasek, announced the successful completion of a $60 million Series B investment round headed by Peak XV Partners on July 12. 
Valor Capital Group and Jump Trading Group led the round, and DBS, JP Morgan, Standard Chartered, and Temasek provided continued support. 
<a href="https://www.cryptopolitan.com/pertsev-denied-bail-in-money-laundering-case/">Also Read: Tornado Cash dev Alexey Pertsev denied bail in money laundering case</a> 
According to their<a href="https://www.partior.com/news-and-insights/partior-announces-60m-series-b-round-to-transform-clearing-and-settlement-infrastructure-worldwide" rel="nofollow noopener" target="_blank">&nbsp;blog post,</a> the money will be used to support the company’s global unified ledger, a blockchain-based bridge that allows financial institutions such as banks and payment service providers to clear and settle multi-currency transactions in real-time across borders. According to Partior: 
<blockquote> 
 This new round of funding will enable the advancement of new capabilities like Intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments. 
 The investment will significantly support [the firms] international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. [The blockchain network] is currently live with USD, EUR, and SGD. 
 Partior 
</blockquote> 
JP Morgan, DBS, and Sematek founded the blockchain settlement network in Singapore in 2021 to reduce friction and delays in cross-border payments, commercial transactions, and foreign exchange settlements. 
Peak XV Partners led the firm’s most recent fundraising round, which was spun off from Sequoia Capital in June 2023 in an effort to decentralize the company’s activities. Peak XV Partners represents the old conglomerate’s operations in India and Southeast Asia. 
<figure class="wp-block-image"> 
 <figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfroF_IC8VScs_YTKZopst6dlaaFDizkGTr-rzTYibZCIM3jsgv_tqCtXyo3h99o5F_zAOPldRnRu_GOFNzOIm57cLPH_UFuDwbi3M1623nyYSOzMd4fWDzgiEr7keO5U3GMxQlqJ_twhdtDzNPCXu_eX6q?key=34sHhTsxDH5dUlTIYqnDXQ" alt="" width="1132" height="747">
 <figcaption class="wp-caption-text">
 Source: Partior team
 </figcaption>
 </figure> 
</figure> 
Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek, hailed the firm’s aim as bold and expressed enthusiasm for the fundraising round in a blog post: 
<blockquote> 
 As one of the founding shareholders of Partior, we’ve always believed in the transformative potential of its technology to shape global financial market infrastructure. This latest round of investment is a testament to the incredible progress Partior has made towards this endeavour. 
 We look forward to welcoming new investors and financial institutions to Partior and jointly supporting Partior in their mission to create a more seamless and efficient financial ecosystem worldwide. 
 Pradyumna Agrawal 
</blockquote> 
Shailendra Singh, Managing Director, Peak XV, added, “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 catalyze change in this industry. We couldn’t be more excited to join DBS, J.P. Morgan,&nbsp; Standard Chartered, and Temasek as co-shareholders in this journey.”&nbsp;

JP Morgan-backed blockchain firm Partior announces $60M+ Series B funding

Cryptopolitan_News

Andre artikler udgivet 13. jul. 2024

Profits Soar with CYBRO Referral Program, Overshadowing ARB and STRK

Ripple CLO Reflects on First Anniversary of Positive Court Ruling

Bitcoin Price Rises and Market Trends Shift

Ripple XRP Soars: Top 5 Gainer with Double-Digit Growth

Project Golem joins ETH staking frenzy, locks up 40K tokens

Can Bitcoin Still Make A New All-Time High In July Despite Shaky Start To Month? Tron (TRX) Netwo...

Join our free newsletter for daily crypto updates!