Deutsche Bank invests in Partior's Series B funding round

Other participants in the round include major financial institutions JPMorgan, Jump Trading, and Standard Chartered, according to a statement from the Singapore-based firm.

Partior, established in 2021, operates as a blockchain payment network supported by traditional financial institutions such as DBS Bank, JPMorgan, Standard Chartered, and Temasek. The platform facilitates payments in USD, EUR, and SGD, with plans to expand to additional currencies as its network grows.

Deutsche Bank has joined Partior's Series B funding round as a strategic investor, contributing to the USD 80 million raised by the blockchain payment network.

Growing adoption of blockchain in traditional finance

Deutsche Bank's involvement reflects the increasing interest from traditional financial firms in blockchain technology. As part of the collaboration, Deutsche Bank will join the platform as a settlement bank for transactions in EUR and USD. In the company press release, officials from Deutsche Bank noted the transformative impact of technological advancements on the payments sector.

Partior’s investor base also includes private equity and venture capital firms such as Temasek, Peak XV, Jump Trading, and Valor Capital Group. The company aims to position itself as an important contributor to the blockchain-based payment infrastructure by integrating additional currencies and expanding its global reach.

Deutsche Bank’s contribution to Partior’s funding round comes in the context of wider blockchain adoption in the finance industry. For instance, not too long ago, Mastercard announced a partnership with JPMorgan to enhance cross-border payments using blockchain technology. By integrating Mastercard MTN's connectivity with Kinexys Digital Payments, mutual customers of MTN and Kinexys gained the ability to settle B2B transactions through a single API integration.

In other developments, Partior recently collaborated with Nium, aimed at providing customers with real-time cross-border payments, clearing, and settlement. Following this announcement, financial institutions gained the ability to connect with Nium via Partior for 24x7, transparent, real-time payouts, clearing, and settlement to over 100 markets around the world.