Partior is a Singapore-based startup that specializes in cross-border blockchain settlements. Peak XV Partners led its new Series B funding round, which raised $60 million. Peak XV Partners, which used to be called Sequoia India & Southeast Asia, led the investment drive to help Principal with its work to fix the fracturing of liquidity in financial markets.
A story from Bloomberg says that alongside Peak XV, Jump Trading, Valor Capital, and existing investors such as Temasek Holdings, JPMorgan, and Standard Chartered, they took part in the funding round. The exact value of Partior after this funding round has not been made public.
Exploring Partior’s Growth and Impact in Blockchain Settlement Solutions
The Monetary Authority of Singapore’s Project Ubin included Partior in its 2021 development. It works with Temasek, DBS, and JPMorgan, among others, to make foreign payment and settlement processes easier and better using blockchain technology. The startup has been on the cutting edge of new ideas, and they recently helped Standard Chartered make successful Euro-denominated cross-border deals between Hong Kong and Singapore.
With the Series B funds, Partior will be able to offer more settlement options. Intraday forex swaps, cross-currency repos, and delivery versus payments in securities are some of the new options that are being planned. These programs are meant to make international money transfers even easier and faster, so they can keep up with the changing needs of markets around the world.
A study by JPMorgan found that Partida is determined to make the most of blockchain technology, even though the market at the time thought it was bad and major traders were losing faith in it. The study shows that buyers have changed their minds a lot. It used to be that 25% of people thought blockchain would be a tool that would change the world in three years. Now, only 7% of people think that. For now, though, blockchain is still one of the most important tools. After AI/ML and API contact, it came in third.
