Standard Chartered Joins Partior as Founding Partner With Strategic Investment
by Fintech News Singapore November 3, 2022Standard Chartered announced today at the Singapore Fintech Festival that it has made an investment in Partior and is now a founding shareholder. The sum was not disclosed and is subject to regulatory approvals.
Founded by DBS, J.P. Morgan and Temasek, Partior is a blockchain technology provider for payments clearing and settlement and begun its first pilot with participating banks to achieve end-to-end settlements in SGD and USD of less than 120 seconds.
The investment will accelerate Standard Chartered’s deployment of blockchain technology across its global wholesale payments and settlements network, scaling the utility of Partior’s technology in global capital markets.
This development puts 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.
In addition to joining the ranks of Partior’s founding partners, Standard Chartered will serve as the first Euro settlement bank for the Partior platform.
Philip Panaino
Philip Panaino, Global Head of Cash, Transaction Banking at Standard Chartered said,
“Our investment in Partior will allow us to deliver the speed, efficiency and visibility of domestic settlement systems to cross-border transactions, simplifying and improving the experience for our clients. As we navigate the increasingly connected payments universe, we recognise that a concerted effort is needed.
To that end, we are delighted to collaborate with industry partners who share our commitment to deliver the G20 aspirations of enhancing cross-border transactions for the benefit of citizens and economies worldwide.”
Jason Thompson
Jason Thompson, CEO of Partior said,
“Standard Chartered is one of the most established international banks in the industry, and we cannot think of a more strategic partner to diversify our network and accelerate the real-world utilisation of our technology in international markets.
We look forward to working closely with our partners to continuously deliver value to the ecosystem as we scale our core services globally.”
