Blockchain payment network Partior raises $60 million in second round – DL News

Partior, a blockchain settlement network and financial services company, announced in a blog post that it has closed a $60 million Series B investment round led by Peak XV Partners.

Valor Capital Group and Jump Trading Group supported the round, while JPMorgan, Standard Chartered, DBS and Temasek continued to support as founding shareholders.

“Partior is breaking down silos and rewriting the rules for cross-border clearing and settlement,” said company CEO Humphrey Valenbreder. “We see a very bright future for frictionless, cross-border transactions based on blockchain. The fact that some of the best banks and investors in the world support our vision further confirms this.”

Traditional cross-border payments face numerous challenges, including delays, high costs, lack of transparency on timing, multiple intermediaries, varying processing speeds and different compliance standards among correspondent banks.

Partior’s global, unified ledger enables financial market participants, including banks and payment service providers, to join its network and access real-time, cross-border and multi-currency clearing and settlement, the blog post said.

This funding will enable the further development of new features, including intraday foreign exchange swaps, cross-currency repos, programmable corporate liquidity management and just-in-time payments between multiple banks, the company said.

JPMorgan, Standard Chartered and DBS currently use Partior to process payments for their clients.

Companies such as Siemens and iFAST Financial have used Partior’s platform through Standard Chartered to gain greater access and control over their working capital, 24/7 availability and enable faster, smoother payment flows.