Fintech company Fnality has announced the raising of $136 million in a Series C funding round to develop blockchain infrastructure for banking payments.
This is reported by Finway
New Opportunities for Banking Transactions
The funding round was co-led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. Additionally, leading financial institutions such as Goldman Sachs, UBS, and Barclays participated as investors. Fnality plans to use the raised funds to launch payment systems in new currencies, enhance liquidity management tools, and expand services for transactions involving tokenized assets, including securities and stablecoins.
Innovations for Tokenized Assets
Fnality’s developments are based on creating tokenized versions of major currencies backed by reserves held at central banks. This enables banks to conduct real-time transactions, implement “delivery versus payment” mechanisms for digital securities, and “payment versus payment” in currency operations. With this approach, banks can operate with fewer intermediaries, accelerate settlement processes, and manage funds more efficiently.
Fnality’s CEO Michelle Neal noted that this funding brings us closer to a “hybrid future of global finance,” where traditional institutions can seamlessly interact with decentralized markets.
Investors, including WisdomTree and Bank of America, view their contributions as part of a global transformation of financial infrastructure aimed at developing the market for tokenized assets and integrating modern technologies into the banking sector.
It is worth noting that in 2023, Fnality had already raised $95.2 million in investments from companies such as Goldman Sachs, BNP Paribas, DTCC, Euroclear, Nomura, and WisdomTree. The new funding round demonstrates the growing confidence of leading market players in Fnality’s ideas and its solutions in the field of blockchain payments.