Partior, an innovative Singapore-based blockchain platform specializing in payment clearance and settlement, has triumphantly closed a Series B funding round, amassing over $60 million in capital.

Partior emerged from Project Ubin—a synergistic initiative spearheaded by the Monetary Authority of Singapore (MAS) in collaboration with industry leaders to scrutinize the efficacy of blockchain and distributed ledger technologies for payment and securities settlement. The platform facilitates instantaneous, cross-border, multi-currency transactions, thereby revolutionizing the traditionally sluggish and costly process of international payments. Through the utilization of blockchain technology, Partior furnishes enhanced transparency, swiftness, and efficiency for both financial entities and corporations.

The funding round was spearheaded by Peak XV Partners, with significant contributions from Valor Capital and Jump Trading. Prominent existing stakeholders, including J.P. Morgan, Standard Chartered, and Temasek, also augmented the investment.

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This substantial influx of capital is poised to expedite Partior’s global expansion, augment its currency integration capabilities, and foster the development of innovative features such as intraday foreign exchange swaps, cross-currency repurchase agreements, and programmable enterprise liquidity management solutions, as stated in the announcement.

“Optimizing liquidity management for both corporations and financial institutions is crucial in an era where global operations run ceaselessly. Traditional cross-border payment systems encounter numerous hurdles, such as delays, exorbitant costs, opaque timing, multiple intermediaries, inconsistent processing speeds, and divergent compliance standards across correspondent banks,” Partior elaborated.

Currently, Partior supports USD, EUR, and SGD, with ambitions to broaden its currency repertoire to encompass AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. The platform is already being leveraged by major financial institutions like DBS, J.P. Morgan, and Standard Chartered.