Fnality, the international consortium of global banks focused on building a blockchain-based payment system to support the adoption of tokenised assets and marketplaces, has raised £77.7 million in a Series B funding round co-led by Goldman Sachs and BNP Paribas.
In brief:
-The new equity will further Fnality's goal of establishing a global liquidity management ecosystem for new digital payment models in both wholesale financial markets and emerging tokenised asset markets.
-The lead investors were joined in the round by DTCC, Euroclear, Nomura and WisdomTree.
-The culmination of this latest round brings Fnality's total capital raised to £132.7m as it readies for the commencement of initial Sterling Fnality Payment System (£FnPS) operations in 2023, subject to regulatory approval
What does this mean?
Mathew McDermott, global head of digital assets at Goldman Sachs, says: “Fnality’s solution is a key enabler for the digital asset ecosystem. Fnality’s application of blockchain technology offers a resilient way for institutions to use central bank funds across a wide set of potential use cases, including instantaneous, cross-border, cross-currency payments, collateral mobility, and security transactions. We are pleased with our investment and are looking forward to the transformative impact Fnality brings.”
