In January we reported the abrupt departure of CEO Jason Thompson from Partior, which has finally announced his replacement as Humphrey Valenbreder from bunq, the Dutch neobank. Singapore-based Partior has created an interbank blockchain network for wholesale cross border payments that maintains the correspondent banking model but uses tokenization for speed, round-the-clock payments and automation. It was founded by DBS Bank, JP Morgan, Standard Chartered and Temasek. In related news, all three settlement banks are now operational on the platform.
Former CEO Thompson and Mr Valenbreder have some things in common. Both have a commercial focus (Valenbreder was acting CCO at Bunq) and worked at unicorns before joining Partior. However, one major difference is that Valenbreder previously spent long stints at traditional banks, mainly with ABN Amro, but also with the Royal Bank of Scotland.
JP Morgan was first to go live on the Partior network late last year after receiving the approval of the United States Office of the Comptroller of the Currency (OCC) a year ago. However, a single active bank on the network isn’t that useful, especially given JP Morgan has its own blockchain network.
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