DBS, JPMorgan and Temasek to Create Blockchain-Based Payments Joint Venture

The platform, to be dubbed “Partior,” will seek to disrupt the traditional payments model and the common pain points that come with it.

AccessTimeIconApr 28, 2021 at 10:00 a.m. UTC
Updated Sep 14, 2021 at 12:47 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

JPMorgan, DBS Bank and Singapore government-owned investment company Temasek are teaming up to create a blockchain-based joint venture for payments, trade and settlement.

  • The platform, to be dubbed “Partior,” will seek to disrupt the traditional payments model and the common pain points that come with it, according to an announcement Wednesday.
  • Partior is intended to develop wholesale payments rails based on digitized commercial bank money, allowing instantaneous settlement between financial institutions.
  • This, the venture partners said, will help to address the inefficiencies related to multiple validations of payment details by banks and other post-transaction handling and reconciliation activities.
  • The platform will harness blockchain and smart contracts to enable banks worldwide to conduct real-time cross-border transactions starting with a focus on flows in USD and SGD between the two Singaporean companies and JPMorgan. The platform would then be expanded to other markets and currencies.
  • JPMorgan has been offering a blockchain-based interbank payments system for several years used by over 400 financial institutions, including many of the world’s largest banks.
  • The Wall Street behemoth has stressed its LIINK payments rails and JPM coin, now rebranded as onyxcoin (ONYX), are not meant to compete with the likes of SWIFT. Built on the Ethereum-based Quorum blockchain, JPMorgan seeks to deepen the networks cross border payments capabilities in the important and crypto-friendly trading hub of Singapore.


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.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.