Fnality secures $136M to expand settlement network
Funding round led by major banks and asset managers aims to advance blockchain-based wholesale payment systems
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Fnality, a London-based operator of regulated blockchain payment systems, announced today that it has raised $136 million in a Series C funding round.
The round was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb, with participation from existing backers including Santander, Barclays, Goldman Sachs, and UBS. The fresh capital will support the expansion of Fnality’s DLT-enabled settlement systems across major currencies and markets.
Fnality launched the Sterling Fnality Payment System (£FnPS) in the UK in December 2023, marking the world’s first regulated wholesale payment system to settle in digital cash backed by central bank funds. In December 2024, the UK government granted the £FnPS settlement finality designation, cementing its systemic importance.
Its systems allow real-time settlement of tokenized securities, foreign exchange, and repo transactions, offering delivery-versus-payment and payment-versus-payment functionality. These services are designed to reduce counterparty risk and increase efficiency in institutional markets.
CEO Michelle Neal said the funding reflects “a shared conviction that the future of money demands a new foundation, one with Fnality at its core.” Industry investors, including Bank of America and Citi, emphasized that regulated DLT infrastructure could reshape wholesale markets by providing faster, interoperable, and more resilient settlement solutions.
Fnality’s progress aligns with broader industry moves toward tokenized assets and blockchain-based market infrastructure. Projects such as JPMorgan’s Onyx and Euroclear’s tokenization pilots highlight a growing institutional push into digital settlement rails.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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