Partior, a blockchain settlement network and financial services company, said in a blog post that it had completed 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 provided continued 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 blockchain-based frictionless, cross-border transactions. Having some of the world’s best banks and investors back our vision validates this even further.”

Traditional cross-border payments face multiple challenges, including delays, high costs, lack of transparency on timings, multiple intermediaries, variable processing speeds, and differing compliance standards across 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, multi-currency clearing and settlements, according to the blog post.

This funding will enable the advancement of new capabilities including Intraday FX swaps, cross-currency repos, programmable enterprise liquidity management, and just-in-time multi-bank payments, the company said.

JPMorgan, Standard Chartered, and DBS are currently using Partior to facilitate payments for their customers.

Companies including Siemens and iFAST Financial have used Partior’s platform through Standard Chartered for better access and control of their working capital, 24×7 availability, and faster, more seamless payment flows.