Leading international law firm Clifford Chance has advised blockchain payments network Partior in its Series A funding and fundraising round, which sees Standard Chartered join Partior’s founding consortium including DBS Bank, JP Morgan Chase and Temasek. The firm had previously advised the consortium that first established Partior in 2021.
The investment accelerates and scales the utility of Partior’s open industry platform across global capital markets, with Standard Chartered as Partior’s first euro settlement bank, and expands the platform currency offering beyond the initial list of eight global currencies.
Partior also recently launched its Hyderabad Development Center and continues to deliver on its vision to transform global payments and become the worldwide ledger for financial institutions’ value exchange, having achieved a record end-to-end SGD-USD settlement of less than 120 seconds in October 2022.
Singapore Managing Partner Valerie Kong, who led the Clifford Chance team on the transaction, said: “We are delighted to be advising Partior on the successful fundraising round, which will open up new opportunities in the transformation of cross-border payments. The transaction demonstrates the depth and breadth of our global expertise in DeFi.”
Valerie was supported by senior associate Matt Wentz, associates David Ho and Shi Cheng Chong, and intern John Wu. A multi-jurisdictional team in Beijing, Brussels, Hong Kong, London, New York, Tokyo, Singapore and Washington, DC provided additional specialist advice:
- Partner Lena Ng advised on Singapore regulatory aspects;
- Attorney Philip Angeloff advised on US regulatory aspects;
- Attorney Hajime Saito and Associate Attorney Tomoki Goto advised on regulatory aspects in Japan;
- Senior associate Jane Chen and trainee Yvonne Cheng advised on China’s regulatory aspects;
- Partner Michael Seaton and partner Wei Bin Tan advised on US tax aspects;
- Partner Richard Blewett, consultant Dayu Man, associate Helga Gudmundsdottir and trainee Chloe Lettington advised on the antitrust aspects;
- Consultant Brian Harley and Senior Associate Sharon Zhang advised on platform agreements; and
- Partner Ling Ho and senior associate Iris Mok advised on the IP aspects.
The transaction is subject to regulatory approvals and other usual closing conditions.
Partior’s General Counsel Angie Ong commented: “Valerie and the Clifford Chance team demonstrated world-class legal advice throughout the process. We are privileged to have the Clifford Chance team as our trusted legal partners as Partior embarks on our vision to transform global payments and become the global ledger for financial institutions’ value exchange.”
Partior is a blockchain-based technology developer and supplier for digital payment settlement and settlement.
