Fnality has completed a $136 million Series C funding round, led by Temasek and Citibank.

On September 23rd, as reported by The Block, the UK-based blockchain startup Fnality has secured $136 million in Series C funding. This funding was led by WisdomTree, Bank of America, Citigroup, KBC Group, Temasek, and Tradeweb. The purpose of this funding is to expand its global settlement network for banks and tokenized assets. This London-based company operates a wholesale payment system that is regulated by central banks. In December 2023, it launched the Sterling Fnality Payment System (£FnPS). Fnality's system enables banks to settle digital asset transactions using funds that are backed 1:1 by the Bank of England. This provides real-time payment channels for tokenized bonds, stocks, and repo transactions. With this new funding, Fnality plans to expand to other major currencies and build liquidity tools, on-chain workflows, and interoperability with stablecoins and tokenized deposits, as stated by the company. Fnality raised $95 million in a 2023 financing round led by Goldman Sachs and BNP Paribas. In 2019, it raised around $67 million for the development of what eventually became the Fnality Utility Settlement Coin. With today's funding, the company has raised a total of over $280 million to date.