Standard Chartered invests into blockchain company Partior

Standard Chartered invests into blockchain company Partior

Partior, a blockchain-based global network for value exchange, has received an investment from Standard Chartered.

This deal makes Standard Chartered a founding shareholder of Partior. It will bring its global payments expertise, clearing footprint to Partior, which will help the FinTech bolster its international reach and capabilities.

In addition to joining Partior’s founding partners, Standard Chartered will serve as the first Euro settlement bank for the Partior platform.

The size of the investment was not disclosed.

With the support of the bank, Partior hopes to extend its currency offerings beyond the first eight global currencies. It currently supports USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD.

Standard Chartered also made the investment to deepen its own blockchain innovation capabilities. The bank has committed to building a more transparent, efficient and secure infrastructure for global value movement.

It hopes the investment will accelerate the deployment of blockchain across its global wholesale payments and settlements network, scaling the utility of Partior’s technology in global capital markets.

Partior aims to transform and accelerate interbank value movements in the digital era. Its services include multi-currency clearing and settlement, FX payment vs payment, FX intraday swaps, delivery vs payment and more.

Standard Chartered global head of cash, transaction banking Philip Panaino 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.”

Earlier in the year, Standard Chartered invested in Hong Kong-based Chekk. The investment aims to accelerate the product development of Chekk, as well as bolster its sales origination.

The bank also recently announced that it had entered the metaverse. The organisation bought land on The Sandbox, which also houses Warner Music Group, Adidas and Atari.

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