In a notable move, Deutsche Bank has announced its investment in Partior, a blockchain-based payment platform.
This partnership comes as Partior closes its Series B funding round, which successfully raised $80 million.
Investment Details
Deutsche Bank joins Partior’s Series B funding as a strategic investor.
The funding round attracted a total of $80 million, showcasing strong interest from various investors.
Other participants in this round include financial powerhouses like JPMorgan, Jump Trading, and Standard Chartered.
With Deutsche Bank now on board, Partior continues to solidify its position as a digital payments leader, having already gained backing from industry giants like JPMorgan, DBS, and Standard Chartered.
This collaboration was officially disclosed in a press release on Wednesday.
Broader Industry Trends
The German bank’s involvement in Partior’s funding round is a testament to the growing interest from traditional financial institutions in blockchain technology.
Just days ago, Mastercard announced a partnership with JPMorgan to leverage blockchain for cross-border payments.
This momentum reflects the payments sector’s rapid transformation, largely fueled by technological advances and a collective drive toward greater financial accessibility and transparency.
In addition to investing, Deutsche Bank will take on the role of a settlement bank for euro and U.S. dollar transactions within Partior’s network.
This partnership is geared towards enhancing the platform’s operational capabilities.
Future Prospects for Partior
Partior, founded in 2021, is not only attracting significant investment but also gaining the trust of various key players in the finance sector.
Alongside DBS, JPMorgan, and Standard Chartered, investors such as Temasek, Peak XV, Jump Trading, and Valor Capital Group have recognized the potential of this innovative payment solution.
Currently, Partior’s platform enables transactions in U.S. dollars, euros, and Singapore dollars, with plans to expand its currency offerings as its global network evolves.
The future looks promising for Partior, especially as it continues to attract major players in the financial landscape.
Source: Coindesk
