Fnality International company
Overview
Fnality International operates blockchain-based wholesale payment systems regulated by central banks, settling in digital representations of funds held at central banks. It was founded in 2019 by a consortium of banks including Banco Santander and Barclays, and was previously known as the Utility Settlement Coin (USC) project. Its first live system, the Sterling Fnality Payment System (£FnPS), launched in December 2023 and became the world's first regulated DLT-based wholesale payment system settling in central bank funds — a world first for both wholesale finance and digital asset markets. £FnPS has been designated by the Bank of England for Settlement Finality protections, and its balances are backed 1:1 by funds held at the Bank of England. The system is engineered for 24/7 settlement of digital cash, supporting real-time settlement of tokenised securities via delivery-versus-payment, on-demand FX payment-versus-payment, and real-time repo. Fnality raised $136 million (£99.7 million) in a Series C led by WisdomTree with Bank of America, Citi, KBC Group, Temasek and Tradeweb, following a £77.7 million Series B led by Goldman Sachs and BNP Paribas. Founded 2019 out of the Utility Settlement Coin project by a bank consortium including Santander and Barclays. It raised a £77.7 million Series B led by Goldman Sachs and BNP Paribas, launched the Sterling Fnality Payment System in December 2023 as the first regulated DLT wholesale payment system, received Bank of England Settlement Finality designation, and raised a $136 million Series C led by WisdomTree.
Within the DeFi Intel graph, Fnality International connects to 9 tracked entities, most strongly to Goldman Sachs, BNP Paribas, DTCC.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 9 of 9 total).
| Relation | Connected entity | Confidence |
|---|---|---|
member_of | Goldman Sachs | 95% |
member_of | BNP Paribas | 95% |
member_of | DTCC | 95% |
member_of | BNY | 95% |
member_of | Euroclear | 95% |
member_of | Banco Santander | 95% |
member_of | Citigroup | 95% |
member_of | Bank of America | 95% |
member_of | Lloyds Banking Group | 95% |
Frequently asked questions
What is Fnality International?
Fnality International is a wholesale_settlement tracked in the DeFi Intel knowledge graph. It is connected to 9 other tracked entities, most strongly to Goldman Sachs, BNP Paribas, DTCC.
What type of entity is Fnality International?
Fnality International is classified as a wholesale_settlement (company) in the DeFi Intel knowledge graph.
What is Fnality International connected to?
In the DeFi Intel knowledge graph, Fnality International is linked to 9 other tracked entities, most strongly to Goldman Sachs, BNP Paribas, DTCC.
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