Standard Chartered has announced an investment of an undisclosed sum in Partior, the blockchain-powered value exchange.
The bank said its investment makes it a founding shareholder of Partior and will strengthen the company’s international reach.
Standard Chartered will also serve as the first Euro settlement bank for the Partior platform. This will reportedly put Partior on track to achieve its plan to broaden its currency offerings beyond the first slate of eight global currencies – USD, SGD, GBP, EUR, AUD, JPY, CNH and HKD -- by 2023.
The investment represents the synergy between Standard Chartered and Partior, as Standard Chartered deepens its blockchain innovation capabilities, ramping up its commitment to building a more transparent, efficient and secure infrastructure for global value movement, the company said.
Philip Panaino, global head of cash, transaction banking at Standard Chartered, said: “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.”
He continued: “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.”
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