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Partior Secures $60 Million in Series B Funding to Advance Global Blockchain Settlement Network - The UCW Newswire

Partior, a pioneering blockchain settlement network and fintech services firm, announced the successful closure of a $60 million series B funding round on July 12. The funding round was led by Peak XV Partners and saw significant contributions from Valor Capital Group and Jump Trading Group, with continued support from DBS, JP Morgan, Standard Chartered, and Temasek.

The funds will be directed towards enhancing Partior’s global unified ledger, a sophisticated blockchain-based platform designed to enable real-time, cross-border, multi-currency clearing and settlement for financial institutions, including banks and payment service providers. This initiative aims to streamline and expedite cross-border payments, trade transactions, and foreign exchange settlements, reducing the friction and delays traditionally associated with these processes.

Founded in Singapore in 2021 by JP Morgan, DBS, and Temasek, Partior has rapidly gained traction in the fintech industry. The company’s mission is to revolutionize the financial services landscape by leveraging blockchain technology to create a more efficient and transparent settlement network. The latest investment round underscores the strong confidence in Partior’s vision and its potential to transform the global financial ecosystem.

Peak XV Partners, which led the series B funding round, emerged as an independent entity after spinning out from Sequoia Capital in June 2023. This strategic move aimed to decentralize Sequoia’s operations, with Peak XV Partners now representing the Indian and Southeast Asian arm of the former conglomerate. The participation of Valor Capital Group and Jump Trading Group further highlights the widespread industry support for Partior’s innovative approach.

The global unified ledger developed by Partior is expected to significantly enhance the efficiency and speed of cross-border transactions. By utilizing blockchain technology, the platform promises to provide financial institutions with a secure and transparent means of conducting multi-currency transactions in real-time. This is particularly crucial in an increasingly interconnected global economy where the demand for faster and more reliable financial services continues to grow.

In a blog post, Partior emphasized the importance of this funding in accelerating their mission to eliminate the traditional hurdles faced by financial institutions in cross-border payments and settlements. The company aims to leverage the new capital to expand its technological capabilities and broaden its reach within the global financial market.

The successful funding round and the strategic backing from major financial institutions such as JP Morgan, Standard Chartered, and Temasek position Partior as a key player in the evolving fintech landscape. As blockchain technology continues to gain acceptance and integration within the financial sector, companies like Partior are poised to lead the charge towards a more streamlined and efficient global financial system.

With the continued support and investment from industry leaders, Partior’s vision of a unified, real-time settlement network is set to become a reality, offering a transformative solution to the challenges of cross-border financial transactions. The future of financial services looks promising, with blockchain technology at the forefront of this revolution, driving innovation and efficiency across the sector.

Terry Jones
Digital Assets Desk



This article was originally published by a news.ucwe.com . Read the Original article here. .

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