Today Partior, the DLT-based payment network, announced its first closing of its $60 million Series B funding round led by Peak XV Partners (formerly Sequoia Capital India & SEA) and including Valor Capital Group and Jump Trading Group. The company previously raised $31 million according to Pitchbook. The news comes just two months after announcing the appointment of new CEO, Humphrey Valenbreder.
Partior was founded by JP Morgan, DBS Bank and Temasek, with Standard Chartered joining subsequently. Its first solution is an international settlement network using tokenization, which grew out of Singapore’s Project Ubin CBDC work. The three founding settlement banks enable clients, including other banks, to send instant cross border payments 24/7.
So far it supports US dollars, Sing dollars and Euros, with plans to support numerous others. In addition to the larger currencies, it will also support Brazil’s Real and several Gulf currencies. As previously announced, clients such as Siemens and iFast Financial are using Standard Chartered for euro transactions to give them better control over liquidity.
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