Cross-border blockchain-based settlement startup Partior has secured multi-million funding from a pool of investors to expand payment offerings.

Singapore-based cross-border blockchain settlement startup Partior has raised $60 million in a Series B funding round led by Peak XV Partners, formerly Sequoia India & Southeast Asia. This funding aims to address liquidity fragmentation and enhance their payment services.

The funding round included contributions from Jump Trading, Valor Capital, and existing shareholders like Temasek Holdings, JPMorgan, and Standard Chartered. The Singapore government-incubated startup plans to use these funds to expand its settlement offerings, introducing solutions such as intraday forex swaps, cross-currency repos, and delivery versus payments in securities. The startup’s valuation following this funding remains undisclosed.

Founded in 2021 as part of the Monetary Authority of Singapore-led Project Ubin, Partior aims to streamline international payments and settlements using blockchain technology.

Partior was established in collaboration with Temasek, DBS, and JPMorgan to leverage blockchain technology for more efficient international payments and settlements. In mid-May, Standard Chartered successfully completed Euro-denominated cross-border transactions between Hong Kong and Singapore using Partior’s platform.

In mid-February, JPMorgan released results from a survey conducted among over 4,000 institutional traders. The survey revealed a significant decline in confidence regarding blockchain use cases among large investors. Only 7% of respondents viewed blockchain as a promising technology over the next three years, a sharp decrease from the 25% reported in 2022. Despite this drop, blockchain still ranked third in terms of prospects, following API integration (13%) and artificial intelligence/machine learning (61%).

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