November 29, 2024
By Our Correspondent
Partior, a fintech company based in Singapore that specializes in blockchain technology for real-time clearing and settlement, announced on Wednesday that Deutsche Bank has become a strategic investor in its Series B funding round, increasing the total investment to $80 million.
This announcement signifies the conclusion of the second phase of Partior’s Series B funding, following the initial close led by Peak XV Partners in July 2024, which included contributions from J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group, as stated by the company. With the addition of Deutsche Bank’s investment, Partior aims to enhance its global presence and expand its cross-border capabilities, while also focusing on the development of innovative features such as Intraday FX swaps and Just-in-Time multi-bank payments.
Established in 2021 and supported by DBS Bank, J.P. Morgan, Standard Chartered, Temasek, and Peak XV, Partior facilitates real-time, atomic clearing and settlement, ensuring instant liquidity and transparency, while providing improved security and addressing the challenges typically associated with sequential processing in traditional payment systems.
Deutsche Bank plans to participate as a Euro and US dollar settlement bank on the Partior platform, highlighting its dedication to providing customers with real-time, secure, and scalable settlement solutions. This initiative aligns with Deutsche Bank’s recent introduction of dbX, a next-generation correspondent banking ecosystem aimed at optimizing and enhancing services for its financial institution clients, according to Partior.
“The payments business is currently undergoing an extensive period of disruption, primarily due to the rapid advancement of technology and drive for greater financial inclusion and transparency. Deutsche Bank, as the largest EUR clearer, is excited to be a leader in this revolution and harness cutting-edge technology to enhance the speed, transparency, and security of payments expected by clients and peers alike,” said Patricia Sullivan, Global Head Institutional Cash Management, Deutsche Bank.
“Deutsche Bank’s investment and collaboration are a powerful validation of our vision to transform global financial infrastructure.” said Humphrey Valenbreder, Chief Executive Officer of Partior. “With their support, we will accelerate our mission to deliver seamless, secure, and instant cross-border transactions for financial institutions worldwide. We are also proud to announce that we have now processed over $1 billion in value worth of transactions, marking a significant milestone in our journey and the growing industry belief in our platform.”
Partior’s blockchain-based network effectively addresses persistent inefficiencies within the financial sector, such as delays in settlement, lack of transparency, and elevated operational costs. By eliminating the necessity for intermediaries, Partior streamlines the clearing and settlement processes for participants in the global financial markets, including banks and payment service providers. Its 24/7 blockchain network is designed to interoperate with real-time local currency payment systems and RTGS frameworks worldwide, facilitating both direct and indirect settlement flows among market participants.
Currently, Partior’s platform supports transactions in USD, EUR, and SGD, with intentions to incorporate additional currencies such as AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR, and SAR. The company is actively broadening its network across the Americas, EMEA, and Asia, partnering with prominent banks, central banks, and fintech firms to promote the adoption of its cutting-edge solutions.
