Fnality, a blockchain settlement company, has made significant moves in its development of euro and US dollar payment systems. Former Bank of England deputy governor Jon Cunliffe has been appointed as the chair of Fnality’s UK board, bringing a wealth of experience to the company. Additionally, Jochen Metzger, a former director general for payments and settlement systems at Deutsche Bundesbank, has joined the European subsidiary’s supervisory board with plans to chair it. Ron Berndsen, a former senior official at the Dutch central bank, has also come on board.
Fnality’s sterling payment system, which was launched in 2023 and is regulated by the Bank of England, allows market participants to settle obligations using central bank money balances. The company’s blockchain settlement infrastructure is specifically designed to support tokenized asset markets and facilitate banks’ activities in stablecoins and tokenized deposits.
Cunliffe emphasized the importance of settling in the safest assets available as financial markets increasingly tokenize. He noted that this will be crucial for maintaining financial stability in the evolving landscape of tokenized financial markets.
To further its expansion, Fnality has established a subsidiary in Eschborn, Germany, to focus on the development of its proposed euro payment system. Additionally, Fnality Bank U.S. has been set up in Stamford, Connecticut, where plans for a dollar system are in progress, along with engagement with US regulators.
In September 2025, Fnality successfully raised $136 million in a Series C funding round. Investors such as Temasek, Euroclear, and Goldman Sachs participated in the funding, showcasing confidence in Fnality’s vision and potential for growth in the blockchain settlement space. With these strategic appointments and developments, Fnality is poised to play a pivotal role in the future of settlement systems and tokenized asset markets.