Partior Blockchain Network Raises $60M Series B Funding

July 12, 2024 Blockchain

Partior, a blockchain-based payment network backed by JPMorgan and DBS, recently raised a staggering $60 million in a Series B funding round, as reported by Coindesk. This significant milestone propelling Partior further into the forefront of the rapidly expanding blockchain space.

The fundraising round was led by an array of investors, including Insight Partners, Citigroup, and Mastercard. The funds raised will be used to accelerate Partior's global expansion and further develop its technology, focusing on improving cross-border transactions and reducing the complexities of traditional banking systems.

Partior aims to streamline the payment process by using distributed ledger technology to eliminate delays, reduce transaction costs, and provide a more transparent payment infrastructure. The company's platform allows users to transfer digital assets and make payments in real-time, marking a significant advancement in the fintech sector's ability to facilitate instantaneous transactions.

The involvement of JPMorgan and DBS in backing Partior is a significant endorsement for the blockchain platform. Both financial institutions are leaders in their respective fields, and their support for Partior underscores the potential of blockchain technology in transforming the financial services industry.

“JPMorgan and DBS’s backing of Partior speaks volumes about the potential of distributed ledger technology to reshape the financial industry,” said Rohit Mittal, a senior analyst at Forrester Research. “The $60 million funding round is a clear indication of the growing interest and confidence in the blockchain space.”

The partnership between JPMorgan and DBS in backing Partior is noteworthy, given that both institutions have a long history of exploring and investing in blockchain technology. For example, JPMorgan launched its blockchain unit, Onyx, in 2020, while DBS launched a digital exchange later the same year.

Partior's Series B funding round comes amid a global surge in interest in blockchain technology and cryptocurrencies. With major companies and financial institutions increasingly recognizing the potential of blockchain technology, Partior seems well-placed to capitalize on this trend.

As Partior continues to evolve, it aims to navigate its way through the dynamic landscape of digital assets and blockchain technology. With a robust financial backing and a clear vision, Partior is poised to make a significant impact on the realm of digital payments, potentially ushering in a new era of financial transactions.

The successful funding round is a testament to the belief in Partior's vision and the potential of its technology. With its recent financial boost, Partior is set to continue its journey into the future of digital payments, showing the world the transformative power of blockchain technology.

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