Deutsche Bank invests $80 million in Partior: a revolution in blockchain payments

Deutsche Bank invests $80 million in Partior: a revolution in blockchain payments

Partior took a significant step forward in blockchain technology when it raised $80 million in its Series B funding round with new investors in the form of Deutsche Bank. This investment should support the company's ambitious plans for global expansion.

Founded in 2021 and headquartered in Singapore, Partior specializes in groundbreaking real-time clearing and settlement solutions for cross-border transactions. Its blockchain-based platform brings not only transparency but also efficiency to a space that has traditionally been burdened by delays and complicated processes.

New Partners for New Significant Wheels

The new funding round took place in July 2024 and included major players such as Peak XV Partners, J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek and Valor Capital Group. Deutsche Bank also joined Partior in this round and plans to act as a euro and US dollar clearing bank on the platform.

Vision for Global Expansion

All funds raised will be used to further develop features, including the introduction of new products such as intraday FX swaps. Partior seeks to overcome the traditional problems associated with slow sequential processing, a traditional weakness of legacy payment systems.

"As a result of rapid technological advances and the growing drive for financial inclusion, the payments industry is experiencing significant disruption," said Patricia Sullivan, Deutsche Bank's global head of institutional cash management. "As the largest clearer in EUR, Deutsche Bank is committed to leading this revolution with state-of-the-art solutions that meet client expectations for secure, real-time payments."

Deutsche Bank and Cryptocurrencies

However, Deutsche Bank is not entering the industry unprepared. In recent years, it has been increasing its presence in the cryptocurrency space. In June 2023, it filed an application for a digital asset custody license with the German Financial Supervisory Authority as part of its strategy to provide clients with access to new opportunities in the cryptocurrency market.

Thus, Deutsche Bank's investment in Partior not only strengthens its position in the field of innovation in payment systems, but also confirms the trend that tradition and modern technology can go hand in hand and open up new avenues for the future of finance.

*This is not investment advice.

The Coingarage team