According to Foresight News, the interbank payment network Partior has successfully completed the concept verification for forex payments using its blockchain network. The participants in this process included its two co-founders, JPMorgan and DBS Bank, as well as Mizuho Bank, the third largest bank in Japan. The significance of Payment versus Payment (PvP) lies in the simultaneous exchange of two currencies, thereby eliminating settlement risk. This scheme also supports 24x7 real-time atomic settlements. If both parties do not wish to settle immediately, it supports same-day value transactions. Partior plans to launch this solution later this year.
Previously, Foresight News reported that Partior was launched in Singapore by JPMorgan, DBS Bank, Temasek, and Standard Chartered Bank. It was designed as a multi-bank, multi-currency wholesale system, with each bank controlling its own node. This allows customers to conduct value transactions between these banks using blockchain assets.