- Partior raised nearly $60 million, led by Peak XV Partners, with participation by other investors.
- Funds will expand Partior's international network and integrate more currencies beyond USD, SGD, and EUR.
- Partior aims to address traditional cross-border payment issues with real-time, blockchain-based transactions.
Singapore-based Partior, a cross-border payments and settlement blockchain company, has announced the first close of a $60M+ in a Series B round led by Peak XV Partners. Other investors include Valor Capital Group and Jump Trading Group. The round also had participation from existing investors including, JP Morgan, Standard Chartered, and Temasek.
The funding will expand its international network and integrate more currencies, beyond its current US dollar, Singapore dollar, and euro operations. The funds will also facilitate the development of new features, including intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management.
“Partior is breaking down silos and rewriting the rules for cross-border clearing and settlement. We see a very bright future for blockchain-based frictionless, cross-border transactions. Having some of the world’s best banks and investors back our vision validates this even further,” said Humphrey Valenbreder, chief executive officer, of Partior.
The process of traditional cross-border payments faces delays, high costs, unclear timing, multiple intermediaries, inconsistent speeds, and varying compliance standards among correspondent banks.
Founded in 2021 as a joint venture by DBS, JP Morgan, and Standard Chartered, Partior's global unified ledger allows financial market participants, such as banks and payment service providers to join its network for real-time, cross-border, multi-currency transactions.
Major banks in financial hubs like London, New York, Singapore, Frankfurt, and Hong Kong use Partior.
Edited by Harshajit Sarmah
