Following this announcement, Standard Chartered completed successfully the Euro-denominated cross-border transactions between the regions of Hong Kong and Singapore, while also going live on Partior, the global unified ledger market infrastructure. The company will continue its commitment to building a more transparent, efficient, and safe infrastructure for worldwide value movement by incorporating blockchain optimisation directly into the Bank’s payment systems.
In addition, Standard Chartered will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
More information on the announcement
As multiple financial institutions demand the implementation of the latest solutions and technologies in their treasury operations, aiming to achieve optimal efficiencies in their cross-border settlements, it has become important for bank providers to embrace optimisations and have partnerships that can deliver value-added tools to their clients.
The user transactions with Siemens AG and iFAST Financial Pte Ltd. took place from 13 to 14 May 2024, and it represents an important step into Standard Chartered’s integration and operationalisation of distributed ledger technology (DLT)-based payment workflows with the its core banking systems in a real-world commercial setting. In addition, this process was expected to take place in a transparent and secure environment for customers’ business-as-usual workflow.
By leveraging the Partior platform, the financial institution will focus on streamlining cross-bank payments, as well as covering its geographical footprint for such transactions and payments. At the same time, by expanding Partior’s network coverage to include EUR, USD, and SGD, the companies aim to optimise connectivity for end clients that are serviced across major financial centers, such as Singapore, Hong Kong, Frankfurt, London, and New York.
