Breaking Down Blockchain-based Clearing and Settlement Network 
A blockchain-based clearing and settlement network known as Partior, with backing from JP Morgan, DBS, Temasek, and Standard Chartered, recently secured $60 million in a Series B funding round led by Peak XV Partners. This funding round also saw investments from Jump Trading and Valar Capital.
Expanding the International Network
Singapore-based Partior plans to use the new funds to broaden its international network and incorporate additional currencies. Currently, the network operates with the US dollar, Singapore dollar, and euro. Furthermore, the funds will be utilized to enhance capabilities such as intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management.
Transforming Cross-Border Transactions
- Partior aims to revolutionize cross-border clearing and settlement, breaking down silos and redefining industry norms.
- The collaboration with top global banks and investors highlights the potential for seamless blockchain-based cross-border transactions.
- Humphrey Valenbreder, CEO of Partior, expressed optimism about the future of frictionless cross-border transactions.
Innovative Establishment
Established in 2021, Partior is a joint venture between key players such as DBS, JP Morgan, and Standard Chartered. The venture focuses on creating unified interbank payment systems for immediate clearing and settlement, enabling financial institutions to join the network and access real-time, multi-currency clearing and settlement processes.
Global Accessibility
- Partior’s blockchain network seamlessly connects with real-time local currency payment systems and RTGS systems worldwide.
- It facilitates both direct and indirect settlement flows with various market participants.
- Major financial institutions in cities like London, New York, Singapore, Frankfurt, and Hong Kong utilize Partior for their operations.
Industry Transformation
Shailendra Singh, the managing director of Peak XV, commended Partior’s innovative approach to transforming global money transfer and settlement processes. The collaboration among multiple banks signifies a significant shift in the traditional industry practices.
Hot Take: Revolutionizing Cross-Border Transactions
Partior’s latest funding round signals a significant move towards revolutionizing cross-border transactions through blockchain-based technology. With the support of renowned financial institutions, Partior is poised to reshape the landscape of cross-border clearing and settlement processes, offering a glimpse into the future of seamless global transactions.
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