Partior, Blockchain Payment Network Backed by JPMorgan and DBS, Raises $60M Series B

As an experienced financial analyst, I’m excited about the latest development in the world of blockchain-based banking solutions. Partior, the joint venture between DBS, JPMorgan, and Standard Chartered, is making significant strides in creating unified interbank payment rails using blockchain technology for instant clearing and settlement.

As a crypto investor, I’m excited to share that Partior, the innovative blockchain payment network with the backing of banking heavyweights JPMorgan (JPM), DBS (D05), and Standard Chartered (STAN), has successfully secured $60 million in Series B funding.

Peak XV Partners spearheaded the investment, while Valor Capital Group and Jump Trading Group provided additional funds, a communication received on Friday revealed. JPMorgan, Standard Chartered, and previous backer Temasek also participated in this funding round.

As a crypto investor, I would describe Partior as follows: Partior is a collaborative initiative taken by DBS, JPMorgan, and Standard Chartered with the goal of creating a unified blockchain network for interbank payments. This means that we, as investors, can expect faster and more efficient clearing and settlement processes through this joint venture.

Using blockchain-based technology to expedite such banking processes is now fairly commonplace.

Over the past few years, JPMorgan’s Onyx platform has handled transactions amounting to hundreds of billions of dollars. Recently, Fidelity employed Onyx for tokenizing shares in one of their money market funds.