Fnality Raises $135 Million for Blockchain-Based Payments Platform

Blockchain-based payments firm Fnality International has raised $135 million in new funding.

The U.K. company’s Series C round, announced Tuesday (Sept. 23), was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, with participation from investors that included Goldman Sachs, Barclays and Santander.

“This latest capital raise represents a significant milestone for Fnality and its mission to build a new global settlement network, enabled by distributed ledger technology, that bridges today’s wholesale markets with the emerging world of institutional tokenized assets,” the company said in a news release.

The release adds that since launching the Sterling Fnality Payment System in the U.K. in 2023, the company has focused on extending its network’s footprint to other major currencies, along with liquidity management solutions, and providing settlement interoperability for innovations like stablecoins and tokenized deposits.

“The closing of our Series C reflects a shared conviction that the future of money demands a new foundation, one with Fnality at its core,” said Michelle Neal, Fnality’s CEO. “Our blockchain-based settlement systems, anchored in the credit quality of central bank money, connect traditional finance with the fast adoption of tokenized and decentralized markets.”

Neal told Bloomberg News that the company will use the funding to scale its payments infrastructure, promote product development and seek regulatory approvals in crucial markets.

As PYMNTS wrote earlier this month, tokenization “has emerged from a niche concept to a strategic imperative across financial services, increasingly underpinning payment security and the trading of real-world assets.”

JPMorgan Chase announced in June its plans to launch a product called a “deposit token” that would function as a digital representation of commercial bank money, available only to the bank’s institutional clients.

The launch came as the Senate passed the GENIUS (Guiding and Establishing National Innovation for U.S. Stablecoins of 2025) Act, which would weeks later be signed into law.

Other banks followed suit, with HSBC announcing earlier this week that it was expanding its tokenized deposit service to include cross-border transactions.

As PYMNTS has written, tokenization offers benefits, such as security and fraud prevention, as network tokenization masks sensitive data and reduces fraud while increasing transaction approval rates. However, challenges remain, including technology and adoption gaps.

“Digital identity, on-chain privacy, smart contract security and cross-border infrastructure remain evolving areas,” PYMNTS wrote.