Standard Chartered (STAN) has invested in Partior, the blockchain-based payment network founded by JPMorgan (JPM), DBS Bank (D05) and Singapore government-owned investment fund Temasek.

The size of the investment has not been disclosed. Neither Standard Chartered nor Partior immediately responded to CoinDesk's request for comment in this area.

Mona Founder on Future of the Metaverse

01:49

Fed Sees Just One Rate Cut This Year; CRV Slides as Curve’s Founder Faces Liquidation Risk

00:50

What's Next for Bitcoin After Fed Predicts Just One Rate Cut for 2024

09:05

Litecoin Creator Charlie Lee on Company Evolution

01:45

U.S. CPI Returns Flat in May; Donald Trump Wants All Remaining Bitcoin to Be 'Made in USA'

The bank will become a "founding shareholder" in the network, serving as the first euro settlement provider for the platform, according to an announcement Thursday.

Partior was formed by JPMorgan, DBS and Temasek last year with the aim of developing wholesale payments rails, harnessing blockchain and smart contracts to allow instantaneous settlement between financial institutions.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.