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London-based Fnality blockchain payment network has raised $136 million in a Series C funding round, with backing from some of the world’s most influential banks. The investment, announced Tuesday, was led by Bank of America, Citi, KBC Group, Temasek, Tradeweb, and WisdomTree, alongside returning investors Goldman Sachs, Santander, Barclays, and UBS.
The capital injection marks one of the largest commitments to blockchain settlement infrastructure by global financial institutions. Fnality said the new funds will accelerate its expansion into U.S. dollar and euro markets, pending regulatory approval, while strengthening its existing sterling-denominated system in the United Kingdom.
“The closing of our Series C reflects a shared conviction that the future of money demands a new foundation,” — Michelle Neal, CEO, Fnality.
The Fnality blockchain payment network operates as a distributed ledger infrastructure designed to connect traditional finance with the emerging world of tokenized assets. Its systems are tied to central bank reserves, enabling 24/7 wholesale payment rails, real-time settlement, and enhanced liquidity management.
Fnality has already launched its sterling-denominated Fnality Payment System in the U.K., where it facilitates transactions such as repo settlements, tokenized securities trades, and cross-currency payments. The expansion into the U.S. dollar and euro markets aims to further reduce settlement risks and increase efficiency for global institutions.
Citi’s head of digital strategy, Deepak Mehra, emphasized the strategic value: “Fnality aligns with our ambition to build more efficient, interoperable payment systems for digital assets.”
Backers view the Fnality blockchain payment network as a critical piece of infrastructure for tokenized finance. Jonathan Steinberg, CEO of WisdomTree, said: “Our investment in Fnality reflects our ambition to plug directly into the rapidly growing tokenized markets.”
Fnality’s role as a bridge between conventional banking and tokenized ecosystems is seen as essential for institutional adoption. By embedding settlement functions directly into financial workflows, it aims to create an integrated framework where liquidity can move seamlessly across asset classes and currencies.
This latest raise follows a $95 million Series B round in 2023 led by Goldman Sachs and BNP Paribas, joined by Euroclear, DTCC, WisdomTree, and Nomura. The Series C funding more than doubles Fnality’s capital base, underlining rising investor confidence in its approach.
The momentum behind the Fnality blockchain payment network comes as competition in blockchain-based settlement intensifies. Just last week, Google announced an open-source payment protocol supporting both traditional rails and crypto, developed in partnership with Coinbase, Salesforce, American Express, and over 60 other organizations. The initiative also includes stablecoin transactions, signaling the growing role of tokenized money in digital ecosystems.
Meanwhile, Japan’s SBI Shinsei Bank has teamed up with Singapore’s Partior and Japan’s DeCurret DCP to explore multicurrency tokenized deposits for cross-border settlements. This underscores the broader trend of global banks experimenting with blockchain frameworks for clearing and liquidity.
For institutional investors, the Series C round highlights how major banks are no longer simply exploring blockchain but are now funding infrastructure projects at scale. The Fnality blockchain payment network sits at the heart of this transition, positioning itself as the backbone of wholesale digital payments in a tokenized world.
