Partior, a blockchain technology provider for payments clearing and settlement, became operational on Oct 26 and has begun its first pilot with participating banks, achieving end-to-end settlements in SGD and USD of less than 120 seconds. With global cross-border transactions expected to reach US$156 trillion in 20222 , Partior is well placed to solve existing pain points such as slow settlement speeds and costly transaction fees. The exponential leap forward in reducing settlement time is creating significant interest across the payments ecosystem.
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Partior was founded by DBS, J.P. Morgan and Temasek, and has its genesis in Project Ubin - a collaboration between the Monetary Authority of Singapore (MAS) and the financial industry to explore the use of blockchain and distributed ledger technology for clearing and settlement services.