Deutsche Bank invests in the blockchain Partior

The latest crypto news talks about Deutsche Bank and its strategic investment in the series B funding round of the Partior blockchain.

The German banking giant has chosen to put a foot inside this project, expanding its participation in the bull sector of digital assets.

Among the other investors of Partior, we find names such as JPMorgan and Standard Chartered

All the details below.

Deutsche Bank participates in the series B funding round of the Partior blockchain

Deutsche Bank, one of the largest banking groups in the world, has chosen to participate in the latest funding round of Partior, a blockchain project from Singapore.

The venture capital raising arrives in the series B growth phase, after the startup has  confirmed that it has expanded and consolidated its core business.

At this stage, Partior has attracted the attention of the German bank, leading it to finance the promising activity with 20 million dollars.

The investment adds to that of other VC players such as JPMorgan and Standard Chartered, Temasek Holdings, and Jump Trading, for a total of 80 million dollars.

The lead investor of this round is Peak XV Partners, which helped bring the pre-valuation of the blockchain to 109.8 million dollars, according to CrunchBase.

Deutsche Bank will join the Partior platform as a settlement bank for the euro and the US dollar.

Patricia Sullivan, responsabile globale della gestione della liquidità istituzionale presso Deutsche Bank, commented as follows on the news of the strategic investment:

“The payments sector is experiencing a long period of disruption, mainly due to the rapid advancement of technology and the push towards greater financial inclusion and transparency”.

What functions does Partior perform in the fintech world and how will it leverage the VC funding?

The Partior blockchain network aims to solve some inefficiencies of the traditional banking world, offering the advantages of its own decentralized infrastructure.

Its trustless nature allows for the elimination of fiduciary intermediaries, simplifying the settlement and clearing for banks and payment providers.

Partior ends with immediate liquidity and advanced security, addressing the growing challenges of legacy payment systems such as sequential processing.

Additionally, it features lower operating costs than other similar competitors and offers high transparency and accessibility 24/7.

Currently, the project supports only payments in US dollars, euros, and Singapore dollars. In the future, other currencies will be added, including cryptocurrencies, as the Partior network expands

At this moment, the company from Singapore is aiming to expand its reach in the Americas, EMEA, and Asia through partnerships with banks and fintech leaders.

Partior will use the money raised in the latest funding round to accelerate its core business of cross-border payments, scaling new goals more quickly.

Humphrey Valenbreder, Chief Executive Officer of Partior, spoke to comment on Deutsche Bank’s participation in the company’s capital raising.

His words convey the strong enthusiasm that the project team is experiencing:

“The investment and collaboration of Deutsche Bank are a powerful validation of our vision to transform the global financial infrastructure. With their support, we will accelerate our mission to provide seamless, secure, and instant cross-border transactions for financial institutions worldwide. We are also proud to announce that we have processed over 1 billion USD in transaction value, marking a significant milestone in our journey and the growing trust of the sector in our platform”.

The dominant presence of Deutsche Bank in the crypto world 

Partior is certainly not the only project being monitored by the European leader Deutsche Bank, which has been investing in the future of blockchain for some years now.

For quite some time, it has been at the forefront in supporting cryptographic technologies with its role as a validator of the Ethereum network.

His commitment in the industry, however, started to become more consistent from 2024 onwards, demonstrating a strong interest in the opportunities of the crypto world.

In June, the German bank revealed it was ready to launch a Euro-based stablecoin compliant with MiCA regulation.

Recently, it would have also submitted an application to the German financial authority BaFin, to request the license for the custody of digital assets.

The initiative goes hand in hand with the launch of the “project DAMA 2”, an avant-garde pilot project in the field of finance and asset tokenization.

This is part of the broader project Guardian promoted by the Monetary Authority of Singapore (MAS), in which Partior also participates.

Furthermore, in October Deutsche Bank launched dbX, a next-generation correspondent banking ecosystem designed to optimize and expand services to institutional clients.

The global interest in cross-border payments on blockchain: the case of Mastercard and JPMorgan

The interest in blockchain technology is not limited to Partior and Deutsche Bank but sees the participation of other well-structured entities.

Last week, the payment giant Mastercard announced that it has joined JPMorgan to develop cross-border payments on blockchain.

The two have formed a strategic partnership to redefine the modus operandi of long-distance transactions.

In detail, there was an integration between Mastercard’s Multi-Token-Network services and JPMorgan’s Kinexys Digital Payments (formerly JPM Coin).

this shift will allow MTN and Kinexys customers to manage B2B transactions through a single API, facilitating payment processes.

Furthermore, the presence of Mastercard ensures the presence of a fluid system, capable of overcoming barriers related to time zones and international frictions.

This solution simplifies operations and allows businesses to benefit from a unified system, capable of integrating natively with global digital markets and platforms.

The partnership leverages the power of tokenization, while both companies seek to strengthen the presence of digital assets in fintech logic. JPMorgan, through Kinexys, has announced that it will introduce tokenized versions of the US dollar and euro by the first quarter of 2025.