Global Banks Fund DLT Leap for 24/7 Financial Settlements

Fnality, the operator of next-generation wholesale payment systems regulated by central banks, has secured $136 million (£99.7 million) in a Series C funding round led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and TradewebFnality Raises $134 Million in Series C Funding | Fnality^[1]. Existing investors, including Banco Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq Ventures, State Street, and UBS, also participatedFnality Raises $134 Million in Series C Funding | Fnality^[1]. This capital infusion marks a pivotal step in Fnality’s mission to build a global settlement network leveraging distributed ledger technology (DLT), aiming to bridge traditional finance (TradFi) with institutional tokenized assetsFnality Raises $134 Million in Series C Funding | Fnality^[1].

The funds will accelerate Fnality’s expansion into major currencies beyond the UK’s Sterling Fnality Payment System (FnPS), launched in December 2023. The platform, supervised by central banks, enables real-time cross-currency payments and secure atomic settlements for tokenized securities, stablecoins, and other digital assetsFnality Raises $134 Million in Series C Funding | Fnality^[1]. Fnality’s technology also supports on-demand foreign exchange (FX) payment-versus-payment (PvP) settlements and real-time repo transactions, enhancing liquidity management for institutional participantsFnality Raises $134 Million in Series C Funding | Fnality^[1].

Fnality’s regulated DLT-based infrastructure is designed to address inefficiencies in traditional financial systems, such as delayed settlements and intermediation costs. For instance, repo trades that typically take days to settle could be completed instantly, freeing capital for other transactionsFnality Raises $136M to Expand Blockchain Payment Systems^[2]. The platform’s 24/7 operational model and use of central bank-backed digital cash aim to create a resilient, interoperable payment ecosystemFnality Raises $134 Million in Series C Funding | Fnality^[1].

Industry leaders have emphasized the strategic significance of Fnality’s approach. Jonathan Steinberg, CEO and founder of WisdomTree, highlighted the firm’s commitment to integrating blockchain into tokenized markets, citing Fnality’s role in enabling 24/7 settlements and programmable financeFnality Raises $134 Million in Series C Funding | Fnality^[1]. Jim DeMare, co-president of Bank of America, described the partnership as a milestone in digitizing institutional markets, enabling faster, more efficient operationsFnality Raises $134 Million in Series C Funding | Fnality^[1]. Citi’s Deepak Mehra noted that Fnality’s regulated DLT framework offers a “compelling pathway” for modernizing financial infrastructureFnality Raises $134 Million in Series C Funding | Fnality^[1].

The investment follows Fnality’s 2023 $95 million Series B round led by Goldman Sachs and BNP ParibasFnality Raises $136M to Expand Blockchain Payment Systems^[2]. With this latest round, Fnality’s shareholder base now includes 21 global financial institutions, reflecting broad institutional confidence in its visionFnality Raises $134 Million in Series C Funding | Fnality^[1]. The company’s shareholders, including Santander, BNY Mellon, and UBS, are collectively working to develop a hybrid financial ecosystem that merges TradFi’s capital efficiency with DeFi’s operational agilityFnality Raises $134 Million in Series C Funding | Fnality^[1].

Fnality’s expansion aligns with growing industry momentum toward tokenized assets. The global tokenized real-world asset (RWA) market, valued at $26.5 billion in early 2025, is projected to grow exponentially as institutions adopt blockchain for private credit, treasuries, and commodities. Fnality’s focus on central bank-issued digital cash positions it to address a critical gap in tokenized markets: the need for institutional-grade liquidityFnality Raises $134 Million in Series C Funding | Fnality^[1].