Remarkable Blockchain Move From Giant Bank Standard Chartered!

International banking group Standard Chartered has invested in Partior and will become one of the founding shareholders of this blockchain-based technology company.

Partior is an independent company born out of the Singapore Monetary Authority-backed Project Ubin collaboration. It was founded in 2021 by JPMorgan, DBS and Temasek.

Standard Chartered Invests in Blockchain Company Partior

Partior’s goal is to leverage the programmable, immutable and traceable features of Blockchain technology and smart contracts for the benefit of digital exchange and payment. According to an announcement, Standard Chartered will become Partior’s first Euro clearing bank.

The investment is also being made to advance the company’s effort to enter the blockchain space, which it sees provides an opportunity to create “a more transparent, efficient and secure infrastructure for the global movement of value.”

Specifically, the investment aims to increase the speed of blockchain deployments in Standard Chartered’s global network of wholesale payments and settlements, while also scaling Partior’s use in global capital markets.

Cryptocurrency The financial details of the investment related to the world were not shared.

The company said in its official letter on the subject:

“This investment represents the joint synergy between Standard Chartered and Partior, while deepening the company’s blockchain innovation capabilities, increasing its commitment to building a more transparent, efficient and secure infrastructure for the global value movement.

As one of the world’s most established international banks, this investment will accelerate Standard Chartered’s use of blockchain technology in its global wholesale payments and settlement network and scale the use of Partior’s technology in global capital markets.”

*Not investment advice.