As a researcher with a background in fintech and blockchain technology, I find the recent funding announcement for Singapore-based startup Partior particularly intriguing. With $60 million in Series B funding led by Peak XV Partners and joined by Jump Trading, Valor Capital, and existing shareholders like Temasek Holdings, JPMorgan, and Standard Chartered, this cross-border blockchain settlement startup is poised to expand its offerings and tackle the issue of liquidity fragmentation.
Partior, a startup specializing in cross-border blockchain payments, has obtained millions of dollars in investment from various backers to broaden its range of financial services.
Partior, a blockchain settlement startup based in Singapore, has successfully secured $60 million in Series B funding, with Peak XV Partners (formerly Sequoia India & Southeast Asia) leading the round. This significant investment will enable us to intensify our efforts in tackling liquidity fragmentation.
According to a Bloomberg report, Peak XV wasn’t the only supporter of the recent funding round. It was also backed by Jump Trading, Valor Capital, Temasek Holdings, JPMorgan, and Standard Chartered. These entities joined in the investment alongside Peak XV.
As an analyst, I would interpret this statement as follows: The funds raised are anticipated to enable our Singaporean incubated company to broaden its financial settlement services. We aim to introduce innovative solutions like intraday forex swaps, cross-currency repos, and delivery versus payments in securities markets. However, the exact valuation of our company following this recent funding round remains confidential.
Established in 2021 as part of a collaborative initiative led by the Monetary Authority of Singapore named Project Ubin, which includes Temasek, DBS, and JPMorgan, Partior is working to simplify international payments and settlements using blockchain technology. In mid-May, Standard Chartered reportedly accomplished the successful execution of Euro-denominated cross-border transactions between Hong Kong and Singapore through the use of Partior’s platform.
Around the middle of February, JPMorgan shared findings from a poll they carried out with over 4,000 professional investors.
As an analyst, I’ve reviewed the findings from the recent investor survey on technology trends. The data shows a noteworthy decrease in confidence surrounding blockchain use cases among larger investors. Specifically, only 7% of respondents expressed optimism about blockchain’s potential over the next three years – a considerable decline from the 25% reported in 2022. However, it’s important to note that despite this drop, blockchain still ranks third in terms of perceived prospects. Following closely behind are API integration (13%) and artificial intelligence/machine learning (61%).
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2024-07-12 12:13