Deutsche Bank has completed its first euro-denominated cross-border payment using Partior’s blockchain platform. As the settlement bank, Deutsche Bank facilitated this transaction, with Southeast Asia’s largest lender, DBS, designated as the beneficiary.
Partior, a bank-backed fintech, operates a ledger-based interbank system for real-time clearing and settlement. Deutsche Bank invested $20 million in Partior late last year and solidified an agreement in May to enhance real-time, secure, and scalable settlement.
The collaboration between Deutsche Bank and DBS, a founding shareholder of Partior, ensured the blockchain network’s compatibility with traditional financial systems, allowing the payment to be processed across various financial infrastructures.
Ciaran Byrne, head of product management for institutional cash management at Deutsche Bank, stated, “We envision a future with multiple rails, including Swift, stablecoins, or blockchain solutions, where intelligent routing maximizes processing efficiency, cost-effectiveness, and client experience. Blockchain is gaining traction in the industry and will be essential in servicing our financial institution clients. Through our partnership with Partior, we aim to provide a new experience in real-time execution.”