:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/T4AWNVS6G5EGVHWBSEVFRFDZ3M "Partior, Blockchain Payment Network Backed by JPMorgan and DBS, Raises M Series B")
Partior, a blockchain payment network supported by banking giants JPMorgan (JPM), DBS (D05), and Standard Chartered (STAN), has successfully secured $60 million in its Series B funding round.
The funding round was led by Peak XV Partners, with additional contributions from Valor Capital Group and Jump Trading Group. Notably, JPMorgan, Standard Chartered, and existing investor Temasek also participated in this round.
Partior operates as a joint venture between DBS, JPMorgan, and Standard Chartered, focusing on establishing unified blockchain-based interbank payment rails for instant clearing and settlement.
The newly raised capital will bolster Partior’s capabilities in intraday foreign-exchange (FX) swaps and cross-currency repurchases, further enhancing its blockchain-powered banking solutions.
Blockchain technology has increasingly become integral to expediting various banking processes. JPMorgan’s Onyx network, for instance, has processed hundreds of billions of dollars in transactions since its inception, demonstrating its growing adoption and efficiency in financial markets. Recently, Fidelity leveraged Onyx to tokenize shares in a money market fund, underscoring blockchain’s expanding role in modern financial operations.
