Fnality, an international consortium of global banks dedicated to the development of a blockchain-based payment system, has successfully raised $136 million in its latest funding round, signaling strong support for its mission to facilitate the adoption of tokenized assets and marketplaces.
The Series C funding round was prominently led by notable financial entities such as WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. They were accompanied by a roster of existing investors, including Banco Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq Ventures, State Street, and UBS, underscoring a robust interest from major players in the financial sector.
Following the introduction of the Sterling Fnality Payment System in the UK in December 2023, the consortium has outlined a strategic vision that encompasses expanding its network to include other significant currencies, augmenting liquidity management tools, and ensuring settlement interoperability for emerging innovations such as stablecoins and tokenized deposits.
Michelle Neal, CEO of Fnality International, expressed optimism regarding the funding, stating, “The closing of our Series C reflects a shared conviction that the future of money demands a new foundation.” She highlighted the organization’s focus on creating blockchain-based settlement systems that integrate the credit quality of central bank money with the rapid evolution of tokenized and decentralized markets. Neal emphasized that the initiative aims not only to modernize wholesale payments but also to forge a future that seamlessly integrates the operational efficiencies of decentralized finance with the capital efficiencies of traditional finance.
