Partior, the long-discussed blockchain platform for payments clearing and settlement that grew from Singapore’s Project Ubin collaboration, has gone live.
Founded by DBS, JPMorgan and Temasek, with the backing of the Monetary Authority of Singapore, Partior says it is achieving end-to-end settlements in Singapore dollars and US dollars of less than 120 seconds. It uses what it calls an “atomic model” to replace the sequential operational approach to payments settlement, and in doing so, says it can provide a better alternative for wholesale settlements by banks, which take an average of two days to complete.
This atomic clearing and settlement is set to revolutionize the way we think around the $156 trillion that moves around the world annually
Jason Thompson, Partior
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