Standard Chartered, JPMorgan Blockchain Payment Firm Raises $60M
In its most recent funding round, Standard Chartered and JPMorgan-backed blockchain payment network Partior has raised $60 million. The two entities are investors in the network, who have raised the renewed capital to continue expanding its offerings.
The company stated that the investment will help the development of its own ledger-based interbank rails for settlement in real-time. Moreover, the funding was led by Peak XV, ValorCapital, and Jump Trading. Those firms join both Standard Chartered, JPMorgan, and Temasek.
Also Read: Standard Chartered Says Bitcoin Could Reach $100,000 This Year
JPMorgan and Standard Chartered Blockchain Payment System Gets Massive Funding
In what could be a massive moment for digital assets, Standard Charterd and JPMorgan-backed blockchain payment network Partior has raised $60 million. Indeed, the company announced the newly raised capital in a recent statement. Specifically, it highlights the firm’s hope to pioneer, “global unified ledger-based transactions.”
“Pariot is an extremely ambitious attempt to transform global money transfer and settlement amongst banks.” PeakVX managing director Shailendra Sigh, said. “It’s a unique approach where multiple banks have come together to catalyze change in this industry.”
Also Read: JPMorgan Says Bitcoin & Crypto Market Will Rebound in August
The funding will help implement new features to real-time interbank rail services. Specifically, it will work on FX swaps, expanded currencies, and just-in-time multi-bank payments. The company was founded by JPMorgan Temasek and DBS in 2021. Standard Chartered became a founding shareholder a year later.
Both of the banking giants already use the network. Moreover, their customers like Siemens and iFAST Financial are utilizing the network with the US dollar, the Euro, and and Singaporean dollar supported.
The continued development of the network could be immensely important to the growth of blockchain finance solutions. The funding should see the project continue to expand in its offerings and capabilities.
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Standard Chartered, JPMorgan Blockchain Payment Firm Raises $60M
In its most recent funding round, Standard Chartered and JPMorgan-backed blockchain payment network Partior has raised $60 million. The two entities are investors in the network, who have raised the renewed capital to continue expanding its offerings.
The company stated that the investment will help the development of its own ledger-based interbank rails for settlement in real-time. Moreover, the funding was led by Peak XV, ValorCapital, and Jump Trading. Those firms join both Standard Chartered, JPMorgan, and Temasek.
Also Read: Standard Chartered Says Bitcoin Could Reach $100,000 This Year
JPMorgan and Standard Chartered Blockchain Payment System Gets Massive Funding
In what could be a massive moment for digital assets, Standard Charterd and JPMorgan-backed blockchain payment network Partior has raised $60 million. Indeed, the company announced the newly raised capital in a recent statement. Specifically, it highlights the firm’s hope to pioneer, “global unified ledger-based transactions.”
“Pariot is an extremely ambitious attempt to transform global money transfer and settlement amongst banks.” PeakVX managing director Shailendra Sigh, said. “It’s a unique approach where multiple banks have come together to catalyze change in this industry.”
Also Read: JPMorgan Says Bitcoin & Crypto Market Will Rebound in August
The funding will help implement new features to real-time interbank rail services. Specifically, it will work on FX swaps, expanded currencies, and just-in-time multi-bank payments. The company was founded by JPMorgan Temasek and DBS in 2021. Standard Chartered became a founding shareholder a year later.
Both of the banking giants already use the network. Moreover, their customers like Siemens and iFAST Financial are utilizing the network with the US dollar, the Euro, and and Singaporean dollar supported.
The continued development of the network could be immensely important to the growth of blockchain finance solutions. The funding should see the project continue to expand in its offerings and capabilities.
Read More
Two Economic Giants Team Up to Shatter US Dollar Dependence with 6 De-Dollarization Projects