Partior, a blockchain-based fintech company, has secured over $60 million in its Series B funding round led by Peak XV Partners. New investors such as Valor Capital Group and Jump Trading Group, alongside existing shareholders JP Morgan, Standard Chartered, and Temasek, also participated in the funding. This capital infusion will enable the Singapore-based firm to advance its capabilities, including intraday FX swaps, cross-currency repos, programmable enterprise liquidity management, and just-in-time multi-bank payments. It will also support the company’s international network expansion and the integration of additional currencies.
Shailendra Singh, Managing Director at Peak XV, emphasized that Partior represents a significant effort to transform global money transfers and bank settlements through collaboration among multiple banks.
Founded in 2021, Partior emerged from Project Ubin, a collaborative initiative between the Monetary Authority of Singapore and the financial services industry. The company specializes in facilitating cross-border payments and settlements, addressing industry challenges such as settlement delays, limited transaction transparency, and high operating costs. Partior’s global unified ledger technology is viewed as crucial in redefining global transaction processing, according to Saurabh Sharma of Jump Trading Group.
Partior is already utilized by major financial institutions in key markets including London, New York, Singapore, Frankfurt, and Hong Kong. Its users include prominent entities such as DBS, JP Morgan, Standard Chartered, Siemens, and iFAST Financial. A report by the Bank for International Settlements underscores the challenges faced by traditional correspondent banking processes in adapting to evolving regulatory and supervisory requirements. The tokenization of correspondent banking could potentially streamline pre-screening and enable atomic settlement, thereby enhancing customer verification and anti-money laundering procedures, according to the report.
