TL;DR
- Fnality raised $136 million in a Series C funding round led by major global banks and investment firms, including Bank of America, Citi, KBC Group, Temasek, Tradeweb, and WisdomTree.
- The London-based company plans to expand its blockchain-based settlement systems beyond the UK, targeting US dollar and euro markets.
- Fnality’s platform uses distributed ledger technology to provide real-time settlement, 24/7 payment rails, and enhanced liquidity, connecting traditional finance with tokenized assets.
Fnality, a London-based blockchain payment provider, announced a $136 million Series C funding round this week. The round attracted some of the world’s largest financial institutions, including Bank of America, Citi, KBC Group, Temasek, Tradeweb, and WisdomTree. Returning investors such as Goldman Sachs, Santander, Barclays, and UBS also participated. The new capital will support the expansion of Fnality’s blockchain-based infrastructure into US dollar and euro markets, pending regulatory approval. Fnality’s leadership highlighted that the investment will also accelerate product development.
Fnality’s CEO Michelle Neal emphasized that the company’s system offers continuous, real-time settlement and improved liquidity for wholesale payments. Last year, the firm launched its sterling-denominated Fnality Payment System in the United Kingdom, providing a blockchain framework tied to central bank reserves. The Series C funding positions the company to extend these capabilities globally, bridging traditional finance with tokenized markets.
Fnality Taps DLT To Bridge Traditional Finance And Tokenized Markets
The firm leverages distributed ledger technology to enable real-time repo transactions, cross-currency payments, and tokenized securities settlements. By reducing settlement risk and improving liquidity, Fnality aims to integrate conventional finance with emerging tokenized markets.
WisdomTree CEO Jonathan Steinberg described the platform as a “critical foundation” for tokenized finance, highlighting its relevance as institutional interest in digital assets grows. Citi’s head of digital strategy, Deepak Mehra, also noted that Fnality aligns with the bank’s efforts to create interoperable, efficient digital payment systems. The company is exploring further connections with central counterparties and clearing houses, which could make cross-border settlements faster and more transparent.
Growing Momentum For Blockchain Payment Rails
Fnality’s latest funding round coincides with wider adoption of crypto-compatible infrastructure. Google recently unveiled an open-source AI payment protocol supporting stablecoins, partnering with Coinbase, Salesforce, and American Express. Meanwhile, SBI Shinsei Bank, Singapore’s Partior, and Japan’s DeCurret DCP are exploring multi-currency tokenized deposits for cross-border settlements, aiming for real-time clearing across various currencies.
Fnality’s platform complements this trend, offering a practical bridge between traditional financial systems and the evolving tokenized economy. Its approach highlights the increasing demand for secure, efficient, and programmable payment rails that can handle both conventional and digital assets seamlessly.
