London-headquartered banking giant Standard Chartered announced on Thursday that it had invested in the blockchain-based interbank settlement platform Partior, a joint venture of JP Morgan, DBS bank and Temasek.
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Fast facts
- This will make Standard Chartered a “founding shareholder” of Partior, the bank said in a statement on Thursday, without disclosing the investment size.
- Standard Chartered will be Partior’s first euro settlement bank, enabling the platform to offer more than the first slate of eight global currencies by 2023, the statement said.
- Last October, Partior achieved end-to-end settlements in Singapore dollars and U.S. dollars in less than two minutes, a dramatic improvement compared to the two-day average for such transactions in the existing financial network.
- Partior in June this year announced its full senior leadership team and launched its Hyderabad Development Centre in India to tap into the nation’s engineering talent.
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