Standard

Valor

Partior, a blockchain settlement network and fintech services firm 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 round was <a href="https://www.partior.com/news-and-insights/partior-announces-60m-series-b-round-to-transform-clearing-and-settlement-infrastructure-worldwide" target="_blank" rel="noopener nofollow">supported</a> by Valor Capital Group and Jump Trading Group with continuing support from DBS, JP Morgan, Standard Chartered and Temasek. 
<h2 id="funds-for-global-ledger">Funds for global ledger</h2>
The funds, according to a blog post from Partior, will go towards facilitating 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:
<blockquote data-ct-non-breakable="true">
 “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 Partior’s international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. Partior is currently live with USD, EUR and SGD.”
</blockquote>
<h2 id="funding-partners">Funding partners</h2>
Partior was <a href="https://cointelegraph.com/news/jpmorgan-and-dbs-to-launch-blockchain-cross-border-payment-platform">founded in Singapore by JP Morgan, DBS, and Sematek in 2021</a> with the goal of reducing friction and delays for cross-border payments, trade transactions and foreign exchange settlements. 
The firm’s latest funding round was led by Peak XV Partners, a group that was spun out of Sequoia Capital in June of 2023 in a move meant to decentralize the company’s operations. Peak XV Partners represents the Indian and southeast Asian arm of the former conglomerate. 
Related: <a href="https://cointelegraph.com/news/sequoia-capital-announces-three-way-split-to-separate-china-business">Sequoia Capital announces three-way split to separate China business</a>
Shailendra Singh, Managing Director, Peak XV, described Partior’s mission as ambitious and expressed excitement over the funding round in commentary published in a blog post:
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>

JP Morgan-backed blockchain firm ‘Partior’ closes $60M Series B funding

Зміст

Cointelegraph

Інші статті, опубліковані 13 лип. 2024 р.

ICO Momentum: Clandeno’s (CLD) $4M Sales Surge Leaves Fetch.ai (FET) Price & XRP Trading Volume S...

10 Top Crypto Gainers to Strengthen Your Portfolio This Week

OpenAI is Developing a New AI Model That Can Think Like Humans

Can Donald Trump Speaking at the Bitcoin Conference Become a Catalyzer for Altcoins?

Court Rules XRP Is Not a Security in Ripple vs. SEC Case

Politician Pepe (POLPEPE) Memecoin Buyer Secures Over 400% Returns, But Waits For 18,000% Rally

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!