Partior completes Series A as Standard Chartered leads round
By Digital News Asia November 8, 2022
- Existing shareholders, DBS, JP Morgan, Temasek participated in this round
- Investment enables Partior to strengthen plan to scale its offering globally
Partior, a global network for value exchange, announced that it has welcomed Standard Chartered as its fourth investor, rounding out its Series A fundraising.
In a statement, the firm said this round was led by Standard Chartered with participation from existing shareholders, DBS, JP Morgan and Temasek.
It added that this latest funding highlights the firm’s globalised reach and scale, and is set to strengthen its fast-growing network of customers and partners.
Patrior said with Standard Chartered joining its network, it will serve as one of the integrated Euro settlement banks and this creates synergy and strengthens the company’s plan to scale its offering globally.
With several discussions ongoing between Partior and settlement banks around the world, the firm said it is on track to deliver its currency offerings of USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD.
As one of the 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, it said.
Partior’s chief executive officer, Jason Thompson (pic, right) said the company’s vision has always been to transform global payments and become the worldwide ledger for financial institutions’ value exchange.
“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,” said Thompson.
According to Partior, this investment strengthens its leadership to execute on its 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.
Philip Panaino, global head of cash, transaction banking at Standard Chartered, said, “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,” said Panaino.
Meanwhile, Pradyumna Agrawal, managing director, Investment (Blockchain), Temasek said “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,” he added.
The transaction is subject to regulatory approvals and other customary closing conditions.
Related Stories :