Partior, Blockchain Payment Network Backed by JPMorgan and DBS, Raises $60M Series B

Partior is a joint venture between DBS, JPMorgan and Standard Chartered aimed at establishing unified blockchain-based interbank payment rails for instant clearing and settlement.

Using blockchain-based technology to expedite such banking processes is now fairly commonplace.

Partior, a blockchain payment network backed by banking giants JPMorgan (JPM), DBS (D05) and Standard Chartered (STAN), has raised $60 million in Series B funding.

The investment was led by Peak XV Partners with contributions from Valor Capital Group and Jump Trading Group, according to an emailed announcement on Friday. JPMorgan, Standard Chartered and existing investor Temasek also joined the round.

Partior is a joint venture between DBS, JPMorgan and Standard Chartered aimed at establishing unified blockchain-based interbank payment rails for instant clearing and settlement.

The new capital will be used to expand Partior’s capabilities in intraday foreign-exchange (FX) swaps and cross-currency repurchases.

Using blockchain-based technology to expedite such banking processes is now fairly commonplace.

JPMorgan’s Onyx network has been settled hundreds of billions of dollars of transactions since going live a few years ago. Last month, Fidelity used Onyx to tokenize shares in a money market fund.

Read More: Don’t Tell Anyone, but Private Blockchains Handle Over $1.5T of Securities Financing a Month

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