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Singapore-based Partior has announced the completion of its Series B funding round.
The blockchain firm has raised $80 million with Deutsche Bank as a strategic investor. This funding will be directed towards expanding Partior’s global reach, enhancing its cross-border transaction capabilities, and developing innovative solutions such as intraday foreign exchange swaps.
Deutsche Bank will integrate into Partior’s platform as a euro and US dollar settlement bank, aligning with its launch of dbX, a next-generation correspondent banking ecosystem.
Partior's second round of Series B funding follows its initial $60 million funding round which closed in July.
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.
Blockhead
Partior, set up by DBS Bank in 2021, 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.
CEO Humphrey Valenbreder emphasized Partior’s mission to deliver seamless, secure, and instant cross-border transactions for global financial institutions,
“We are also proud to announce that we have now processed over US$1 billion in value worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform,” he said.
