Standard Chartered makes significant investment in value exchange Partior
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Standard Chartered makes significant investment in value exchange Partior 04 November 2022Singapore Reporter: Jenna Lomax
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Standard Chartered has made a significant investment in Partior, the global network for value exchange.
The investment is part of an initiative to accelerate Standard Chartered’s deployment of blockchain technology across its global wholesale payments and settlements network, while also expanding the use of Partior’s technology in global capital markets.
As an active participant in the Singapore fintech space, the investment will make Standard Chartered a founding shareholder of Partior.
In addition, Standard Chartered will serve as the first Euro settlement bank for the Partior platform.
The news comes shortly after the company unveiled its full senior leadership team and launched its Hyderabad Development Centre, following its success to convert cross-border value movements, achieving a record end-to-end SGD-USD settlement in less than 120 seconds last October.
Philip Panaino, global head of cash, transaction banking at Standard Chartered, says: “Our investment in Partior will allow us to deliver the speed, efficiency and visibility of domestic
settlement systems to cross-border transactions, simplifying and improving the experience for our clients.
“As we navigate the increasingly connected payments universe, we recognise that a concerted effort is needed. To that end, we are delighted to collaborate with industry partners who share our commitment to deliver the G20 aspirations of enhancing cross-border transactions for the benefit of citizens and economies worldwide.”
Jason Thompson, CEO of Partior, comments: “We are excited to grow our network of distributed payment and settlement partners and realise the future of financial services with blockchain technology. As we transform the global financial infrastructure through the delivery of our technology, we welcome Standard Chartered as an investor and valued partner.”
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