JP Morgan-backed blockchain firm Partior announces $60M+ Series B funding
New round of funding will enable the advancement of new capabilities like Intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments.
Partior, a blockchain settlement network and financial services startup backed by JP Morgan, Standard Chartered, and Temasek, announced the successful completion of a $60 million Series B investment round headed by Peak XV Partners on July 12.
Valor Capital Group and Jump Trading Group led the round, and DBS, JP Morgan, Standard Chartered, and Temasek provided continued support.
According to their blog post, the money will be used to support the company’s global unified ledger, a blockchain-based bridge that allows financial institutions such as banks and payment service providers to clear and settle multi-currency transactions in real-time across borders. According to Partior:
This new round of funding will enable the advancement of new capabilities like Intraday FX swaps, Cross-currency repos, Programmable Enterprise Liquidity Management, and Just-in-Time multi-bank payments.
The investment will significantly support [the firms] international network growth and the integration of additional currencies, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, into its network. [The blockchain network] is currently live with USD, EUR, and SGD.
Partior
JP Morgan, DBS, and Sematek founded the blockchain settlement network in Singapore in 2021 to reduce friction and delays in cross-border payments, commercial transactions, and foreign exchange settlements.
Peak XV Partners led the firm’s most recent fundraising round, which was spun off from Sequoia Capital in June 2023 in an effort to decentralize the company’s activities. Peak XV Partners represents the old conglomerate’s operations in India and Southeast Asia.
