By crypto.news | Created at 2024-11-27 13:48:14 | Updated at 2024-11-27 16:43:57
2 hours ago
Blockchain payments firm Partior has added Deutsche Bank as an investor in its Series B round, raising the total funding to $80 million.
Deutsche Bank has joined Singapore-based blockchain fintech startup Partior as a strategic investor, participating in the company’s $80 million Series B funding round.
The investment marks the second close of the round, which began in July 2024, led by Peak XV Partners with contributions from J.P. Morgan, Standard Chartered, Temasek, Jump Trading Group, and Valor Capital Group, the firm noted in a Nov. 27 press release.
While the size of Deutsche Bank’s investment was not disclosed, the funds will be used to expand Partior’s global reach and develop new features, such as intraday FX swaps and just-in-time multi-bank payments. The German bank also plans to join Partior’s platform as a Euro and U.S. dollar settlement bank, though specifics remain unclear.
“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.”
Patricia Sullivan, global head institutional cash management, Deutsche Bank
Partior to expand fiat offerings with Deutsche Bank support
Partior CEO Humphrey Valenbreder welcomed the partnership, emphasizing that Deutsche Bank’s support accelerates the company’s mission to deliver seamless, secure, and instant cross-border transactions. To date, the platform has processed over $1 billion in transactions.
Founded in 2021 and backed by DBS Bank and J.P. Morgan, Partior specializes in real-time clearing and settlement solutions powered by blockchain. The platform aims to simplify cross-border payments by enabling instant liquidity and addressing inefficiencies in traditional payment systems.
Currently, Partior supports the U.S. dollar, euro, and Singapore dollar, with plans to add the Japanese yen, British pound, and Australian dollar in the future.
