Deutsche Bank (DBK) has recently joined the roster of investors in Partior, the blockchain payment network supported by leading traditional finance firms such as JPMorgan (JPM), DBS (D05), and Standard Chartered (STAN), as reported by the company on Wednesday.

As a strategic investor in Partior’s Series B funding round, Deutsche Bank has helped to boost the total amount raised by the payment company in this round to a significant $80 million, according to reports from the Singapore-based firm.

This move signals the increasing embrace of blockchain technology by conventional finance entities. Just last week, global payment leader Mastercard announced it was partnering with JPMorgan to facilitate cross-border payments utilizing the blockchain.

Deutsche Bank is not only investing but also plans to integrate with Partior’s platform to offer euro and U.S. dollar settlement banking services. Patricia Sullivan, Deutsche Bank’s global head of institutional cash management, noted in the press release that the payments sector is witnessing massive disruption due to rapid technological advancements and a push for increased financial inclusion and transparency.

Launched in 2021, Partior has the backing of significant players in the finance world, such as DBS Bank, JPMorgan, Standard Chartered, Temasek, and Peak XV. Other investors count Jump Trading and Valor Capital Group among their ranks.

Currently, Partior’s platform allows for payments in U.S. dollars, euros, and Singapore dollars. However, as the global network continues to expand, the company plans to include more currencies.

Interested in learning more? Check out “Partior, Blockchain Payment Network Backed by JPMorgan and DBS, Raises $60M Series B”.

For those interested in investing or looking to stay updated in the finance sector, this development signals a significant step in the adoption of blockchain technology by traditional finance firms.