Partior

Payments on Partior settle in tokenized commercial bank money, and settlement banks such as J.P. Morgan and Deutsche Bank take part for the currencies they clear. Partior calls the transfer atomic settlement: both legs of a transaction settle together or not at all, and the full amount reaches the beneficiary bank under the rulebook of the network. Before any money moves, the ledger checks the beneficiary details and runs compliance checks, so fewer payments come back with errors or requests for information.

A multilateral rulebook governs all participants, so a bank that joins needs no bilateral arrangements with each counterparty, such as the RMA authorizations that banks exchange in the Swift network. Partior uses the ISO 20022 message standard, and its ledger works with real-time payment systems and the RTGS systems of central banks. Deutsche Bank and DBS made sure that their first euro payment on the network could also pass through traditional rails, a practical case of financial interoperability between a new ledger and existing infrastructure.

Standard Chartered became the first euro settlement bank live on Partior in May 2024, with transfers between Hong Kong and Singapore for its clients Siemens AG and iFAST Financial. With that step the network added the euro to the US dollar and the Singapore dollar. Partior CEO Humphrey Valenbreder named Singapore, Hong Kong, Frankfurt, London and New York as the financial centers whose clients gained access through the new currency.

Deutsche Bank invested in Partior in November 2024 and signed a platform agreement in Singapore on 28 May 2025 to join as a euro and US dollar settlement bank. On 25 September 2025 it completed its first euro payment on the network, with Deutsche Bank as settlement bank and DBS as beneficiary bank. Patricia Sullivan, who heads institutional cash management at Deutsche Bank, described the bank as the largest euro clearer when it announced the investment.

Emirates NBD, which had invested in Partior, went live in July 2026 as the first bank in the Middle East, North Africa and Türkiye region with real-time cross-border payments on the network. Its first live transaction was in US dollars, with J.P. Morgan as both settlement bank and beneficiary bank, and its corporate clients can now pay beneficiaries with accounts at J.P. Morgan in real time. In October 2026 the National Bank of Bahrain signed a memorandum of understanding to examine a role as settlement bank for the Bahraini dinar.

In Japan, SBI Shinsei Bank and DeCurret DCP, the platform behind the yen deposit token DCJPY, agreed in September 2025 to study multi-currency settlement with tokenized deposits on the network. NH NongHyup Bank became the first Korean bank to test the network, in a pilot with simulated data in December 2025. Partior plans to add ten more currencies, among them the pound, the yen, the UAE dirham and the Brazilian real, as the company stated when Deutsche Bank joined as investor.

Partior FX Settlement exchanges both currency legs of a foreign exchange trade at the same moment, as payment versus payment at any hour of the week. This removes the Herstatt risk, the risk that one side pays its currency while the other side fails to deliver. In June 2025 Partior connected to the FX PvP service of OSTTRA and Baton Systems, so participants can settle FX trades in tokenized commercial bank money in US dollars, euros and Singapore dollars.

Together with the intraday FX swap marketplace Finteum and the integration firm Adhara, Partior showed in September 2025 that banks can trade such swaps and settle them at once as PvP, which helps them manage intraday liquidity for hours or minutes. With OpenAssets, Partior completed a proof of concept in July 2026 for delivery versus payment of digital assets and stablecoins against tokenized deposits.

In September 2026 Partior and LSEG Digital Settlement House announced a multi-settlement bank solution that moves settlement liquidity between several banks at any hour, with less need for prefunded nostro accounts. Oliver Harris, Global Head of Kinexys by J.P. Morgan, said the step lets settlement banks and clients of Kinexys Blockchain Deposit Accounts transact around the clock.

J.P. Morgan, DBS and Temasek founded Partior in 2021, and Standard Chartered joined as fourth shareholder when it led the Series A round in November 2022. The first close of the Series B round in July 2024 raised more than US$60 million, led by Peak XV Partners with Valor Capital Group and Jump Trading Group as new investors. J.P. Morgan, Standard Chartered and Temasek also took part in that close as existing shareholders.

Deutsche Bank joined the Series B in November 2024 as a strategic investor, which brought the total investment to US$80 million. By then Partior had processed transactions worth more than US$1 billion, according to its chief executive Humphrey Valenbreder. The company has its head office in Singapore and opened a research and development center in Hyderabad, India, in 2022.

Partior blockchain is the private, permissioned ledger on which Partior runs its payment and FX settlement services for banks. Only authorized financial institutions have access to the ledger, so it is not a public blockchain that anyone could join or read.

DBS, J.P. Morgan, Standard Chartered and Deutsche Bank use the network in commercial operation, and Emirates NBD followed with live US dollar payments in July 2026. SBI Shinsei Bank, NH NongHyup Bank and the National Bank of Bahrain have tested the network or signed agreements to study a connection.

Partior can operate independently of Swift, because the payment instruction and its settlement happen on the same ledger. The network still follows ISO 20022, and Ciaran Byrne of Deutsche Bank expects banks to route payments over several rails, among them Swift, stablecoins and blockchain networks.

Partior describes its network as a unified ledger with atomic finality across tokenized instruments. The Bank for International Settlements uses the same term for its proposal of one platform for tokenized central bank money and tokenized deposits, the BIS unified ledger, and central banks test that design with commercial banks in Project Agorá. Partior runs a commercial network in tokenized commercial bank money, built to connect to central bank digital currencies as well.

Companies cannot connect to Partior directly, because the platform is open only to financial institutions. A company uses the network through a participating bank, as Siemens AG did with Standard Chartered for euro transfers between Hong Kong and Singapore.