Fnality Secures $136M Funding from Goldman Sachs, BofA to Expand Blockchain Payment Infrastructure for Banks

Fnality, a London-based fintech company developing tokenized versions of major currencies backed by central bank cash, has successfully raised $136 million in a Series C funding round. The investment will accelerate the expansion of its blockchain-based wholesale payment systems for financial institutions. The funding round was co-led by major financial players including WisdomTree, Bank of America, Citigroup, KBC Group, Temasek, and Tradeweb. Existing investors Goldman Sachs, UBS, and Barclays also participated significantly. This follows Fnality's previous $95 million raise in 2023 led by Goldman Sachs and BNP Paribas. Fnality's innovative settlement infrastructure leverages distributed ledger technology to enable sterling payments processed on-chain using central bank money. The new capital injection will support the rollout of similar systems for additional currencies, enhance liquidity management tools, and facilitate settlement of tokenized assets including securities and stablecoins. The platform offers real-time trade settlement, delivery-versus-payment for digital securities, and payment-versus-payment for foreign exchange transactions. For banking institutions, this translates to reduced intermediaries, accelerated settlement times, and improved capital efficiency. For instance, repo trades that typically require one-day settlement can now close instantly, freeing capital for additional transactions. Fnality CEO Michelle Neal emphasized that this funding represents significant progress toward "a hybrid future of global finance" where traditional financial institutions seamlessly integrate with decentralized markets. Major backers including WisdomTree and Bank of America view this investment as part of the broader transformation toward modernizing financial infrastructure for tokenized assets.