JP Morgan-Backed Partior Secures $60M in Series B Funding

full version at coinchapter

JP Morgan-Backed Partior Secures $60M in Series B Funding

Key Takeaways

$60M Funding: Partior secured $60 million in Series B funding led by Peak XV Partners.
Ledger Enhancement: Funds will enhance Partior’s blockchain-based global unified ledger.
Expanded Capabilities: New features and additional currencies like AED, AUD, and JPY will be added.

YEREVAN (CoinChapter.com) — Partior, a blockchain settlement network, has closed a $60 million Series B funding round. The round was led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group. DBS, JP Morgan, Standard Chartered, and Temasek also continued their support.

Partior Secures $60M Series B Funding Source: — *Partior Secures $60M Series B Funding. Source: Partior*

Founded in Singapore in 2021 by JP Morgan, DBS, and Temasek, Partior aims to streamline cross-border payments and reduce transaction delays.

Partior to Enhance Global Ledger

Partior plans to use the funds to enhance its global unified ledger. This blockchain-based system enables real-time, cross-border, multi-currency clearing and settlement for financial institutions like banks and payment service providers.

The funding will support new capabilities such as Intraday FX swaps, Cross-currency repos, and Programmable Enterprise Liquidity Management. Partior also aims to integrate Just-in-Time multi-bank payments.

Currently, Partior operates with USD, EUR, and SGD. The goal is to expand its network to include AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR, supporting a wider range of currencies.

Partior Expands Global Ledger Capabilities with $60M Funding Source: — *Partior Expands Global Ledger Capabilities. Source: Partior*

Peak XV Leads $60M Funding for Partior’s Global Expansion

Peak XV Partners, formerly part of Sequoia Capital, led the funding round. This group represents the Indian and Southeast Asian arm of the former conglomerate. They spun out of Sequoia Capital in June 2023.

Shailendra Singh, Managing Director at Peak XV, described Partior’s mission as an effort to transform global money transfer and settlement among banks. Singh expressed excitement about joining forces with DBS, JP Morgan, Standard Chartered, and Temasek.

Partior continues to grow and expand its capabilities, processing transactions for firms like JP Morgan, DBS, and Temasek. The focus remains on reducing friction in cross-border payments.

The post JP Morgan-Backed Partior Secures $60M in Series B Funding appeared first on CoinChapter.