Fnality International Ltd., a London-based blockchain payments startup, has secured $136 million in new funding, underscoring growing momentum around blockchain-powered finance. The fundraising round, announced Tuesday, attracted backing from major global institutions including Bank of America, Citigroup, KBC Group, Tradeweb Markets, Temasek Holdings, and WisdomTree. They join earlier investors such as Goldman Sachs, UBS, and Banco Santander.
The fresh capital will support Fnality’s efforts to expand its digital payments infrastructure, advance product development, and pursue regulatory approvals in additional markets, according to CEO Michelle Neal. The company’s mission is to streamline cross-bank transactions by leveraging blockchain technology, making settlements faster, safer, and more efficient.
At the heart of Fnality’s system is a digital cash asset, fully backed by reserves held at the Bank of England. This allows financial institutions to settle trades in tokenized assets—such as equities and bonds—without the delays and costs often associated with traditional processes. Since launching its sterling-based payment platform in 2023, the company has been working to extend its model to other major currencies.
The funding comes at a time when established financial players are stepping up their blockchain strategies. JPMorgan recently introduced a U.S. dollar deposit token, while HSBC rolled out a tokenized deposit service, reflecting the industry’s accelerating interest in digital settlement solutions.
Founded in 2019 from a UBS-led initiative, Fnality positions itself as a bridge between conventional banking and next-generation financial systems. With fresh backing from some of the world’s largest financial institutions, the company is poised to play a pivotal role in shaping how money moves in the digital era.
