Standard Chartered completes Euro denominated cross-border payments on the Partior network

By Gloria Mathias

Standard Chartered has announced the successful completion of Euro-denominated cross-border transactions between Hong Kong and Singapore and to go live on Partior, the global unified ledger market infrastructure.

This follows the bank’s investment in the platform in November 2022. The bank continues its commitment to build a more transparent, efficient, and secure infrastructure for global value movement by integrating blockchain directly into its payment systems.

As corporate treasurers and financial institutions demand the implementation of the latest technologies in their treasury operations to achieve optimal efficiencies in their cross-border settlements, it is increasingly important for bank providers to embrace innovation and partnerships that can deliver value-added solutions to their corporate and financial institution clients.

Mahesh Kini, Global Head of Cash Management at Standard Chartered, said, “With the financial landscape and corporate treasury function undergoing rapid transformation, corporate and financial institution clients increasingly require their banking partners to support them in achieving better access, visibility and control of their working capital, and provide ‘always-on’ availability, liquidity, and speed of payment flows. This is the key driver behind our relentless focus on building core capabilities that allow us to enable and facilitate emerging payment rails. We understand the real transformation that blockchain-enabled solutions can deliver to the industry and the broader ecosystem. Our collaboration with Partior to be the first Euro settlement bank to launch on the network brings us closer to our goal of providing real-time, 24/7 flows at scale for corporates and financial institutions while meeting their treasury needs safely and efficiently.”

“As the first Euro settlement bank on Partior, Standard Chartered is driving innovation through the use of blockchain technology to meet evolving client needs. The onboarding of Standard Chartered expands Partior’s network coverage to include the Euro, in addition to US Dollars and Singapore Dollars, and enhances connectivity for end clients serviced across major financial centers, including Singapore, Hong Kong, Frankfurt, London and New York,” said Humphrey Valenbreder, Chief Executive Officer, Partior.