Standard Chartered Invests in Partior, A JP Morgan and Temasek-backed Blockchain Payment Network

Standard Chartered has invested in Partior, the blockchain-based payment network founded in last year by Singapore government-owned investment fund Temasek, J.P. Morgan and DBS Bank. 

With this investment, Standard Chartered becomes a founding Shareholder of Partior. Standard Chartered will serve as the first Euro settlement bank for the Partior platform.

Partior is an open industry platform, ​developed to make digital clearing and settlement more efficient, reliable, and secure by harnessing the benefits of blockchain and smart contracts technology.

As an Open Platform, Partior addresses current points of friction that enables banks around the world to provide real-time cross-border multi-currency payments, trade finance, foreign exchange and DVP securities settlements on a world-class platform, with programmability, immutability, traceability built into its suite of services.

With investment from Standard Chartered, Partior on track to achieve its plan to broaden its currency offerings beyond the first slate of eight global currencies – USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD, by 2023.

Based out of Singapore, Partior started as Project Ubin, in 2016, a collaborative project with the industry to explore the use of Blockchain and Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities. In 2020, Project Ubin develops a prototype that validates CBDC cross-border payments are cheaper and faster.

Eventually in last year, Partior goes live with SGD and USD, and this year it goes for commercial expansion with 8 currencies selected for onboarding (mentioned above) . Team Partior also won this year’s G20 TechSprint, an international contest to search for innovative solutions for operational problems in green and sustainable finance. Partior was selected among winners for "improving interoperability" category for their solution Project Naucratis: Enabling Connectivity & Interoperability for mCBDC, which is a blockchain-based multi-CBDC network that supports both account-based and token based CBDC models.

Partior, an independent company, is the blockchain platform for payments clearing and settlement that grew from the Project Ubin collaboration, and founded by J.P. Morgan, DBS and Temasek, with the backing of MAS, to achieve end-to-end atomic settlements in multiple currencies, and replace the sequential approach to payments settlement.

The platform aims to make digital clearing and settlement more efficient, reliable and secure for financial institutions worldwide by leveraging the key benefits of programmability, immutability and traceability, inherent features of blockchain and distributed ledgers, and aims to address multi-currency and cross-border payments pain points.

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