Revolutionizing Cross-Border Transactions in Crypto World 🌐
Blockchain-based clearing and settlement network, Partior, has secured a significant $60 million in funding, led by Peak XV Partners, to revolutionize cross-border transactions in the crypto world. Discover how this initiative backed by major institutions like JP Morgan, DBS, Temasek, and Standard Chartered is set to transform the landscape of international payments and settlements.
Expanding the Network and Integrating New Currencies 💱
Partior, headquartered in Singapore, plans to utilize the newly acquired capital to enhance its global network and incorporate additional currencies into its platform. The network currently supports transactions involving the US dollar, Singapore dollar, and euro. The funding will also be channeled towards the development of new features such as intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management.
- Partior to expand international network and integrate more currencies
- Current operational currencies include US dollar, Singapore dollar, and euro
- Development of new capabilities like intraday FX swaps and cross-currency repos
The Vision of Partior: Reinventing Cross-Border Transactions 🚀
Described as a game-changer in the industry, Partior aims to eliminate barriers and set new standards for cross-border clearing and settlements. The platform envisions a future where blockchain technology facilitates seamless international transactions, supported by leading banks and investors who share this vision of frictionless cross-border payments.
Joint Venture for Unified Payment Systems 💳
Established in 2021, Partior is a collaborative effort between DBS, JP Morgan, and Standard Chartered, with a primary goal of creating unified interbank payment systems for instantaneous clearing and settlements. The platform enables banks, payment service providers, and other financial market players to join its network and access real-time, multi-currency clearing and settlement capabilities.
- Partior founded in 2021 by major banking institutions
- Facilitating immediate clearing and settlement via unified interbank payment systems
- Enabling real-time cross-border, multi-currency transactions for financial market participants
Global Adoption and Impact on Financial Markets 🌍
Partior’s blockchain network seamlessly integrates with local currency payment systems and real-time gross settlement (RTGS) systems worldwide, enabling direct and indirect settlement flows between market participants. Leading banks in financial hubs like London, New York, Singapore, Frankfurt, and Hong Kong have already embraced Partior to streamline their operations.
- Interoperability with local currency payment systems globally
- Utilized by major banks in prominent financial markets
- Transforming global money transfer and settlement processes in the banking sector
Hot Take: The Future of Cross-Border Transactions in Crypto 🌐
As Partior secures significant funding and garners support from major financial institutions, the future of cross-border transactions in the crypto world looks promising. Stay tuned for more updates on how blockchain technology is revolutionizing the way we conduct international payments and settlements.
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