[Partior, a blockchain payments network backed by JPMorgan Chase and DBS Bank, raises $60 million in Series B funding]
Partior is a joint venture established by DBS, JPMorgan Chase and Standard Chartered Bank to establish a unified blockchain cross-bank payment network to achieve instant clearing and settlement.
Using blockchain technology to speed up these banking processes is now quite common.
Partior, the blockchain payments network backed by JPMorgan (JPM), DBS (D05) and Standard Chartered (STAN), has raised $60 million in Series B funding.
The investment was led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group, according to an email announcement Friday. JPMorgan, Standard Chartered and existing investor Temasek also joined the round.
The new funding will be used to expand Partior’s capabilities in intraday FX swaps and cross-currency repos.
J.P. Morgan’s Onyx network has settled hundreds of billions of dollars in trades since it went live a few years ago. Last month, Fidelity Investments used Onyx to tokenize shares in a money market fund.
