Blockchain payment fintech Partior raised over $60 million in a Series B funding round.
What Happened: Peak XV Partners led the effort, with participation from new investors Valor Capital and Jump Trading, The Block reported on Friday.
Previous investors JPMorgan (NYSE:JPM), Standard Chartered and Temasek also supported the round.
Partior intends to use the new capital to enhance its ledger-based interbank rails for real-time clearing and settlement. This includes adding features like intraday FX swaps, integrating more currencies and enabling just-in-time multi-bank payments.
Founded in 2021, and backed by the Monetary Authority of Singapore, Partior aims to modernize cross-border payments. Standard Chartered joined as a founding shareholder in 2022.
Partior's network is already being used by major banks like DBS, JPMorgan and Standard Chartered to facilitate payments for clients such as Siemens and iFAST Financial, supporting USD, EUR and SGD.
Partior CEO Humphrey Valenbreder emphasized the company's mission to revolutionize cross-border clearing and settlement. "We see a very bright future for blockchain-based frictionless, cross-border transactions," he said.
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Why It Matters: The successful funding round for Partior comes at a time when financial institutions are increasingly exploring blockchain technology to enhance their services.
Goldman Sachs (NYSE:GS) announced plans to launch three tokenization projects by the end of the year, aiming to tokenize real-world assets like money market funds and real estate holdings.
According to Fortune report, Matthew McDermott, global head of digital assets at Goldman Sachs, stated that these initiatives will change how clients can invest. This broader industry trend highlights the growing importance of blockchain technology in modernizing financial systems.
What's Next: The impact of tokenization is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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