DBS, J.P. Morgan and Temasek form Partior to run a blockchain platform for interbank payments

Partior/Partior settlement network

The three set up Partior to replace the hub-and-spoke correspondent model with a shared ledger of digitised commercial-bank money, enabling near-instant, atomic settlement of payments, trade and FX. It builds on the Monetary Authority of Singapore's Project Ubin and starts with USD and SGD.

• Use cases: FX payment-versus-payment, delivery-versus-payment and escrow, 24/7.
• J.P. Morgan's Takis Georgakopoulos: a shared ledger 'will change the way payments are cleared and settled'.
• MAS's Sopnendu Mohanty called the launch a 'global watershed moment for digital currencies'.