{"id":237315,"date":"2021-04-28T11:21:59","date_gmt":"2021-04-28T08:21:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jpmorgan-and-dbs-to-launch-blockchain-cross-border-payment-platform\/"},"modified":"2021-04-28T11:21:59","modified_gmt":"2021-04-28T08:21:59","slug":"jpmorgan-and-dbs-to-launch-blockchain-cross-border-payment-platform","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jpmorgan-and-dbs-to-launch-blockchain-cross-border-payment-platform\/","title":{"rendered":"# JPMorgan and DBS to launch blockchain cross-border payment platform"},"content":{"rendered":"

“# JPMorgan and DBS to launch blockchain cross-border payment platform <\/strong>”
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Major American investment bank JPMorgan is working with Singapore\u2019s largest bank, DBS, and state investment firm Temasek to launch a new blockchain company focused on global payments and interbank transactions.<\/p>\n

Dubbed Partior, the new firm will use blockchain technology<\/a> and digitize commercial bank money to reduce the existing friction in cross-border payments, trade transactions and foreign exchange settlements.\u00a0<\/p>\n

Such functionality would enable instant settlement of payments for various types of transactions, helping banks overcome global payment-related challenges in the current financial system, JPMorgan said<\/a> in a Wednesday announcement.<\/p>\n

The new platform builds on JPMorgan and Temasek\u2019s past work as part of Project Ubin, a blockchain-based multi-currency payment initiative initiated by the Monetary Authority of Singapore in 2017. Partior\u2019s platform will launch with a focus on facilitating flows mainly between Singapore-based banks in both the United States dollar and the Singapore dollar, aiming to extend service offerings to other markets in various currencies.<\/p>\n

The platform aims to complement ongoing central bank digital currency projects and use cases, the announcement notes. MAS chief fintech officer Sopnendu Mohanty said that Partior provides a foundational global infrastructure for transacting with digital currencies. \u201cThe launch of Partior is a global watershed moment for digital currencies, marking a move from pilots and experimentations towards commercialisation and live adoption,\u201d he said.<\/p>\n

DBS CEO Piyush Gupta stated that blockchain technology and smart contracts will enable Partior to support \u201creal-time cross-border multi-currency payments, trade finance, foreign exchange and DVP securities settlements on a world-class platform, with programmability, immutability, traceability built into its suite of services.\u201d<\/p>\n

All three Partior project participants are consolidating their involvement in the cryptocurrency industry. In late 2020, DBS established a crypto exchange division called DBS Digital Exchange, allowing investors to trade major coins like Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and XRP. <\/p>\n

JPMorga\u00a0reportedly started<\/a> hiring Ethereum developers in April. The company is also rumored to be preparing to launch an actively managed Bitcoin fund. As reported in March, Temasek\u00a0is allegedly a Bitcoin investor.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# JPMorgan and DBS to launch blockchain cross-border payment platform ” Major American investment bank JPMorgan is working with Singapore\u2019s largest bank, DBS, and state investment firm Temasek to launch a new blockchain company focused on global payments and interbank transactions. Dubbed Partior, the new firm will use blockchain technology and digitize commercial bank money…<\/p>\n","protected":false},"author":1,"featured_media":237316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvOTk2MjViNGUtNjU2Yi00ODY1LTk5NDctY2YwZDA5YTk4NWNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,77434,75802,74889,71511,5012,4965,67874],"class_list":["post-237315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-dbs-bank","tag-jpmorgan","tag-payments","tag-government","tag-singapore","tag-technology","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=237315"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/237315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/237316"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=237315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=237315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=237315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}