Standard Chartered becomes Partior’s fourth investor, with additional investment from existing investors DBS, J.P. Morgan and Temasek
Singapore, 3 November 2022 — Partior, the trusted global network for value exchange, today announced that it has welcomed Standard Chartered as its fourth investor, rounding out its Series A fundraising. The funding round, led by Standard Chartered with participation from existing shareholders, DBS, J.P. Morgan and Temasek, highlights Partior’s globalised reach and scale, and is set to strengthen its fast-growing network of customers and partners.
With Standard Chartered joining the Partior network, it will serve as one of the integrated Euro settlement banks. This creates synergy and strengthens Partior’s plan to scale its offering globally. With several discussions ongoing between Partior and settlement banks around the world, Partior is on track to deliver its currency offerings of USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD.
As one of the world’s most established international banks, the investment will deepen Standard Chartered’s blockchain innovation capabilities and bolster its commitment to build a more transparent, efficient and secure infrastructure for global value movement. The move will also further accelerate its deployment of blockchain technology across its global wholesale payments and settlements financial network and scale the delivery of Partior’s technology to global capital markets.
Partior CEO, Jason Thompson said, “Our vision has always been to transform global payments and become the worldwide ledger for Financial Institutions’ value exchange, we welcome Standard Chartered as an investor and valued partner to help achieve this. Standard Chartered is one of the most established international banks in the industry. 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.”
The investment strengthens Partior’s leadership to execute on our vision and drive broad adoption of the atomic settlement and clearing. The company recently announced its 2023 product expansion, unveiled its full senior leadership team and launched its Hyderabad Research and Development Centre after its success in atomising cross-border value movements last October. Partior is also the winner of the BIS G20 CBDC TechSprint 2022 Challenge.
“Our investment in Partior demonstrates the Bank’s relentless pursuit of innovation, with the goal of delivering greater efficiencies in cross-border payments and simplifying the client experience,” said Philip Panaino, Global Head of Cash, Transaction Banking, Standard Chartered. “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.”
“Partior is still a very young company, but its stellar line-up of investors highlights the industry’s confidence in the innovation and value Partior brings to international financial markets. This is a significant milestone for Partior, and I have no doubt that this exciting development will accelerate the transformation of global value exchange,” said Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek. “We warmly welcome Standard Chartered onboard and look forward to working with them to fast track the globalisation of Partior’s cutting-edge solutions.”
The transaction is subject to regulatory approvals and other customary closing conditions.
Partior is a blockchain-based technology provider that is enabling the next generation of cross-border payments and value exchange. An independent company that grew from the Project Ubin collaboration backed by the Monetary Authority of Singapore, Partior was founded by J.P. Morgan, DBS and Temasek last year. Partior aims to make digital clearing and settlement more efficient, reliable and secure for financial institutions worldwide by harnessing the key features of blockchain and smart contracts — programmability, immutability and traceability — to address the industry’s longstanding pain points.