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Partior, a Singapore-based blockchain platform for payments clearing and settlement, has announced the successful closing of a $60 million+ Series B funding round.
Partior is the result of Project Ubin – a collaborative project between the Monetary Authority of Singapore (MAS) and the industry to explore the use of blockchain and distributed ledger technology for the clearing and settlement of payments and securities. Its platform enables real-time, cross-border, multi-currency clearing and settlement, revolutionizing the traditional, often slow and costly, cross-border payment process. By leveraging blockchain technology, Partior offers enhanced transparency, speed, and efficiency for both financial institutions and corporations.
The investment round was led by Peak XV Partners and saw participation from Valor Capital and Jump Trading. Existing shareholders, including J.P. Morgan, Standard Chartered, and Temasek, also contributed to the round.
The fresh capital will be instrumental in accelerating Partior's international expansion, integrating additional currencies, and developing new capabilities such as intraday FX swaps, cross-currency repos, and programmable enterprise liquidity management, the announcement said.
"Improving liquidity management for both corporate and financial institutions is imperative in a world where many companies operate round the clock globally. The journey of traditional cross-border payments faces several challenges, including delays, high costs, lack of transparency on timings, multiple intermediaries, variable processing speeds, and differing compliance standards across correspondent banks," Patrior said.
Partior currently supports USD, EUR, and SGD, with plans to expand its currency offerings to include AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. The company is already being utilized by major banks like DBS, J.P. Morgan and Standard Chartered.
