JPMorgan has teamed up with DBS Bank and Temasek to launch Partiore, a blockchain payment company

JP Morgan chase (JP Morgan), the largest bank in the United States, yesterday (28) announced the latest news, with Singapore's financial giant New Development Bank (DBS) and also from Singapore's Temasek Holdings (Temasek) formed a front, Jointly establish a new platform Partiore to digitize narrow money (M1) through blockchain technology and process cross-border funds of banks.

's newly established Partiore platform, named after the Latin word for "distribution and sharing," also hopes to play a similar role in the future financial market. By using blockchain and smart contract technology, together with the digitalization of narrow money, banks around the world can process cross-border funds in a short time. To solve the current problems of slow and complicated procedures for cross-border funds." According to information released by JP Morgan, the Partiore scheme will initially focus on handling US dollar and Singapore dollar funds from its parent bank JP Morgan, DBS Bank and Temasek Holdings, and will continue to support other currencies and expand into larger markets after smooth progress is made. Piyush Gupta, CHIEF executive officer of DBS Bank, is optimistic about the partnership and believes there will only be more demand for services like Partiore's in the financial market.

"Partiore provides real-time, multinational, multi-currency capital solutions for banks around the world, and can play an important role in various fields such as cross-border exchanges and securities settlement and delivery. Being programmable, persistent and traceable at the same time, I believe Patiore will be the best in the field." With the blockchain craze sweeping the world, JPMORGAN Chase has long sensed the business opportunities and potential. As previously reported, JP Morgan partnered with U.S. cryptocurrency exchanges Coinbase and Gemini in May last year, followed by the launch of Quorum, blockchain payment platform Liink and its own stable currency JPM Coin. Recently, it was reported that it will launch an actively managed Bitcoin fund. It is the forerunner of traditional finance across blockchain. Takis Georgakopoulos, GLOBAL Managing Director of

global Corporate Payments, jp Morgan Chase, also mentioned in the announcement that the company continues to experiment and develop innovative fintech solutions to address the barriers facing modern financial markets. "We are delighted to be launching an epochal milestone like Partior. Jp Morgan chase is committed to being a leader in the financial sector, and users of all future banking networks will be able to enjoy unprecedented financial experience through our decentralized network and digital currency."