JPMorgan Joins Temasek, DBS in Blockchain Payments Platform
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JPMorgan Chase & Co. is teaming up with Singapore’s Temasek Holdings Pte. and DBS Group Holdings Ltd. to create a new blockchain-based platform for payments, trade and foreign exchange settlement.
The company, which will be named Partior, will leverage blockchain technology and digitize M1 commercial bank money, with the aim of reducing current frictions and latency for cross-border payments, trade and currency settlements, the firms said in a statement Wednesday.