Standard Chartered invests in JPMorgan blockchain platform

Multinational Investment Bank Standard Chartered announced A financial commitment to JP Morgan-backed blockchain protocol Partior.

This investment will give Partior support from financial institutions to strengthen its international outreach. This development will enable Partior to expand its currency offering beyond its initial slate of eight global currencies (USD, SGD, GBP, EUR, AUD, JPY, CNH, and HKD) by 2023. increase.

The investment also ensures Standard Chartered’s role as Partior’s first euro clearing bank.

Philip Panaino, Global Head of Transaction Banking Cash at Standard Chartered, said of the recent investment:

โ€œOur investment in Partior will allow us to bring the speed, efficiency and visibility of domestic payment systems to cross-border transactions, simplifying and improving the experience for our clients.โ€

Standard Chartered and JP Morgan Crypto Adoption

In May 2019, JP Morgan rolled out the first US bank-backed cryptocurrency. JPM Coin, transforming the payments business.Additionally, as part of the Monetary Authority of Singapore’s Project Guardian, the company It has been executed First live trade on public blockchain, Polygon.

Around April, Standard Chartered sandbox Create metaverse experiences for your customers. As it became clear, Standard Chartered was meant to bring the local sports and arts community to the Metaverse.

In addition, SC Ventures, a standard chartered arm dedicated to innovation and venture, announced In July, we plan to launch a crypto broker and exchange platform for UK and European institutions.

Interestingly, however, JPMorgan Chase President and COO Daniel Pinto and Standard Chartered CEO Bill Winters said: did not agree On the importance of Bitcoin and the broader crypto industry at Hong Kong Fintech Week on Monday. According to JP Morgan’s COO, bitcoin is irrelevant, but Standard Chartered’s CEO disagrees, saying cryptocurrencies have broad institutional applications, mostly in bitcoin and ether. there is

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