Deutsche Bank has become a new investor in Partior, a blockchain payments firm, as it has secured $80 million in its Series B funding round.
Peak XV Partners, J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek, and Valor Capital Group participated in the initial funding round closed in July 2024. Deutsche Bank has been admitted as a new investor in the Singapore-based organization.
Financial institutions like J.P. Morgan and DBS Bank support the blockchain-focused company, Supported by Financial Institutions Partior, which established itself in 2021. The organization’s blockchain-based platform is revolutionizing the global economic infrastructure.
The company offers liquidity and transparency by providing real-time clearing and settlement for cross-border transactions. Partior stated that its objective is to surmount the obstacles frequently associated with sequential processing in legacy payment systems.
The funding will be allocated to enhance Partior’s global expansion initiatives and develop additional functions, including intraday FX swaps. Deutsche Bank intends to participate in the Partior platform as a Euro and US dollar settlement bank.
Payments Sector Undergoing Significant Disruption
Patricia Sullivan, Deutsche Bank’s Global Head of Institutional Cash Management, stated in a press release that the payments industry is experiencing significant disruption due to the pursuit of greater financial inclusion and the accelerated advancement of technology.
Deutsche Bank is dedicated to spearheading this revolution by utilizing state-of-the-art solutions to satisfy client’s requirements for secure, real-time payments as the largest EUR clearer, continues Sullivan.
Over the past few years, Deutsche Bank has been increasing its involvement in the cryptocurrency sector. In June 2023, as part of its ongoing strategy to offer its clients access to cryptocurrency markets and assets, it applied for a digital asset custody license from Germany’s financial authority.
