Fnality has raised USD 136 million in its latest funding round, with participation from both new and existing backers.
The Series C round was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, alongside support from earlier investors including Banco Santander, Barclays, BNP Paribas, Goldman Sachs, State Street and UBS.
The capital will support the expansion of Fnality’s payment systems beyond the UK, where it launched its first platform, the Sterling Fnality Payment System, in December 2023. The company aims to extend its network to additional major currencies, while also working on liquidity management tools and interoperability with emerging payment innovations such as stablecoins and tokenised deposits.
Regulated settlement systems and tokenised assets
Fnality operates wholesale payment systems designed to be overseen by central banks, using distributed ledger technology (DLT) as the basis for its infrastructure. The firm positions itself as part of a more general move to reshape financial market plumbing, enabling transactions such as real-time settlement of tokenised securities, payment-versus-payment foreign exchange settlement, and repo trades.
Officials from Fnality said the fundraising highlights industry demand for new forms of settlement infrastructure that combine the efficiency of digital systems with the security of central bank money. They brought up that the platform is intended to serve as a bridge between traditional finance and growing markets for tokenised assets, operating on a 24/7 basis.
Representatives from lead investors described the move as part of their strategy to adapt to the digital asset landscape. Officials from WisdomTree pointed to the growing role of tokenised markets, while Bank of America and Citi emphasised the potential for greater efficiency in institutional transactions. Tradeweb and KBC Group noted the importance of interoperability and continuous market access in future settlement models.
