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2w ago

Fnality Secures $136 Million to Scale Central Bank-Backed Blockchain Payments

The funding underwrites growth of its live sterling settlement network, with dollar and euro rollouts dependent on Federal Reserve and ECB clearance.

Fnality raises $136m to expand blockchain payment systems for banks
Fnality raises $136m series c to accelerate dlt‑enabled wholesale settlement
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Overview

  • The Series C was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, with participation from Santander, Goldman Sachs, UBS, Euroclear and others, taking total capital raised above $280 million.
  • Fnality will use the capital to expand the operational footprint of the Sterling Fnality Payment System and to build liquidity tools and interoperability with stablecoins and tokenized deposits.
  • Planned expansion into US dollar and euro systems remains subject to regulatory approval from the Federal Reserve and the European Central Bank.
  • The Sterling FnPS launched controlled live payments in December 2023 after HM Treasury designated it a systemically important payment system.
  • The platform supports delivery-versus-payment for tokenized securities, payment-versus-payment for FX, on-demand repo, and 24/7 on-ledger settlement in central bank money.