Partior raises $60M to expand blockchain payments

Partior raises $60M to expand blockchain payments is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Partior has secured over $60 million in Series B funding led by Peak XV Partners.
• The investment will enable Partior to expand its settlement services and introduce new products.

OUR TAKE
Partior recently raised over $60 million in a Series B funding round led by Peak XV Partners, with participation from Jump Trading Holdings LLC, Valor Capital Group, Temasek Holdings, JPMorgan Chase and Standard Chartered. The funding will enable Partior to expand its payment offerings, introduce new financial products and add additional currencies to its platform. Originating from the Monetary Authority of Singapore’s Project Ubin, Partior aims to revolutionise cross-border payments through blockchain technology, increasing efficiency, reducing costs and speeding up transactions. As Partior continues to solidify its position in the blockchain-based payments industry, this funding marks a significant achievement.
–Heidi Luo, BTW reporter

What happened

Partior, a pioneer in blockchain-based cross-border payments and settlements, has successfully raised more than $60 million in its Series B funding round. The funding was led by Peak XV Partners, with significant contributions from Jump Trading Holdings Limited Liability Company, Valor Capital Group, and existing shareholders including Temasek Holdings Private Limited, JPMorgan Chase and Company, and Standard Chartered Public Limited Company.

With the new influx of capital, Partior plans to significantly expand its payment offerings. The company will introduce new financial products such as intraday FX swaps, cross-currency repos and delivery versus payments in securities. These additions are expected to enhance liquidity management and provide more versatile financial solutions to Partior’s growing client base.

The investment will also help Partior to expand its international network and add new currencies to its platform, including the UAE Dirham, Australian Dollar, Brazilian Real, Canadian Dollar, Renminbi, British Pound Sterling, Japanese Yen, Malaysian Ringgit, Qatari Riyal and Saudi Riyal. Partior currently works with the US Dollar, Euro and Singapore Dollar.

Also read: Blockchain technology: Its inception and origins

Also read: 3 advantages of blockchain technology

Why it’s important

Founded in 2021, Partior emerged from the Monetary Authority of Singapore’s Project Ubin, which aimed to explore the potential of blockchain and distributed ledger technology for payments and securities clearing and settlement. The company’s mission is to provide seamless and efficient cross-border payments by leveraging cutting-edge blockchain technology to increase transparency, reduce costs and speed up transaction times.

In addition, Partior’s innovative approach to cross-border payments is particularly relevant in today’s rapidly evolving financial landscape, where traditional banking systems often struggle with the inefficiencies and high costs associated with international transactions. By leveraging blockchain technology, Partior aims to address these challenges and provide a more efficient, cost-effective and secure alternative for global payments.

The successful Series B funding round is a significant milestone for Partior as it enables the company to expand its product portfolio and solidify its position as a leader in the blockchain-based payments and settlement industry.