Global Banks Invest in DLT to Enable Around-the-Clock Financial Settlements

Fnality, a company operating advanced wholesale payment platforms under central bank oversight, has raised $136 million (£99.7 million) in Series C financing. The round was led by

, , , KBC Group, Temasek, and Tradeweb Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. Previous backers, such as , , BNP Paribas, DTCC, Euroclear, , ING, Nasdaq Ventures, State Street, and UBS, also joined this round Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. This new funding represents a significant milestone in Fnality’s efforts to establish a global settlement infrastructure using distributed ledger technology (DLT), with the goal of connecting traditional finance (TradFi) to institutional tokenized assets Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].

This investment will help Fnality broaden its reach to additional major currencies beyond the UK’s Sterling Fnality Payment System (FnPS), which launched in December 2023. The platform, overseen by central banks, supports instant cross-currency transactions and secure atomic settlement for tokenized securities, stablecoins, and other digital assets Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. Fnality’s system also enables real-time foreign exchange (FX) payment-versus-payment (PvP) settlements and immediate repo transactions, improving liquidity management for institutional users Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].

Fnality’s regulated DLT platform is built to resolve traditional financial system challenges, such as slow settlements and high intermediary costs. For example, repo transactions that usually require several days could be finalized instantly, unlocking capital for other uses Fnality Raises $136M to Expand Blockchain Payment Systems [ 2 ]. With 24/7 operations and digital cash backed by central banks, the platform aims to deliver a robust and interoperable payment network Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].

Industry executives have underscored the importance of Fnality’s strategy. Jonathan Steinberg, WisdomTree’s CEO and founder, stressed the company’s dedication to integrating blockchain with tokenized markets, noting Fnality’s contribution to enabling round-the-clock settlements and programmable finance Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. Jim DeMare, Bank of America’s co-president, called the collaboration a breakthrough in digitizing institutional markets, allowing for faster and more streamlined processes Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. Deepak Mehra from Citi remarked that Fnality’s regulated DLT model provides a “compelling pathway” for updating financial infrastructure Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].

This funding round follows Fnality’s $95 million Series B raise in 2023, which was led by Goldman Sachs and BNP Paribas Fnality Raises $136M to Expand Blockchain Payment Systems [ 2 ]. With the latest investment, Fnality’s shareholder group now consists of 21 leading financial institutions, demonstrating strong institutional support for its vision Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ]. The company’s investors, including

, BNY Mellon, and UBS, are working together to create a hybrid financial system that combines the capital efficiency of TradFi with the operational flexibility of DeFi Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].

Fnality’s growth is in step with the increasing momentum behind tokenized assets. The worldwide market for tokenized real-world assets (RWA), valued at $26.5 billion at the start of 2025, is expected to surge as more institutions use blockchain for private credit, treasuries, and commodities. By focusing on central bank-issued digital cash, Fnality aims to fill a key need in tokenized markets: providing institutional-grade liquidity Fnality Raises $134 Million in Series C Funding | Fnality [ 1 ].