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Thursday

13 May 2021

Crypto converts JPMorgan, DBS, Temasek pivot to blockchain for interbank remittances

Crypto converts JPMorgan, DBS, Temasek pivot to blockchain for interbank remittances


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“We believe a shared ledger infrastructure such as the Partior platform will change the way payments are cleared and settled, through this first-of-its-kind, wholesale payments rail based on digitized commercial bank money,” said Takis Georgakopoulos, global head of wholesale payments at JPMorgan, in the announcement.

“The current hub and spoke arrangement in global payments often results in delays as confirmations from various intermediaries are needed before a settlement is treated as final,” explained Piyush Gupta, CEO of DBS Bank, adding, “By harnessing the benefits of blockchain and smart contracts technology, the Partior platform will address current points of friction.”.

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