Technology provider for payments clearing and settlement Partior has welcomed Standard Chartered (StanChart) as its fourth investor, rounding out its Series A funding round.
The bank led the funding round, with participation from existing shareholders DBS, JP Morgan and Temasek. StanChart serves as one of the integrated euro settlement banks, creating synergy and supporting Partior’s plan to scale its offering globally.
“They are a strategic partner to diversify our network and scale the delivery of our technology globally. We look forward to collaborating with our growing network of distributed payment and settlement partners and to continue delivering value to the financial services industry,” says Partior CEO Jason Thompson.
With several discussions ongoing between Partior and settlement banks around the world, Partior is on track to deliver its currency offerings of US dollar, Singapore dollar, pound sterling, euro, Australian dollar, yen, renminbi and Hong Kong dollar.
The investment will deepen StanChart’s blockchain innovation capabilities and bolster its commitment to build a more transparent, efficient and secure infrastructure for global value movement.
It will also further accelerate StanChart’s deployment of blockchain technology across its global wholesale payments and settlements financial network, on top of scaling the delivery of Partior’s technology to global capital markets.
See also: Temasek-backed Partior's new CEO says recent funding is proof of blockchain commercialisation
“As we navigate the challenges of today’s evolving payments industry in an increasingly connected world, we recognise that a concerted effort across the industry is needed. To that end, we are delighted to collaborate with other industry partners, who share in our commitment to deliver the G20 aspirations of enhancing cross-border transactions for the benefit of citizens and economies worldwide,” says StanChart global head of cash, transaction banking Philip Panaino.
