UK’s Fnality International Secures $136M to Expand Blockchain Payment Systems

UK blockchain startup Fnality International has raised $136 million in fresh funding, underscoring rising institutional confidence in distributed ledger technology for wholesale finance.

The round drew participation from a roster of global banking heavyweights, including Bank of America and Citi, alongside existing backers. Fnality said the capital will be used to broaden its payment systems into additional currencies and accelerate the rollout of solutions supporting tokenised assets and global liquidity management.

Fnality’s model centers on creating digital cash backed one-to-one by central bank reserves, designed to provide faster, more transparent, and more resilient settlement infrastructure. The company’s Sterling Fnality Payment System (FnPS) went live in late 2023, marking one of the first operational blockchain-based settlement systems overseen by regulators in a major financial hub.

“This funding gives us the firepower to scale globally,” said Fnality CEO Rhomaios Ram. “As tokenisation gathers momentum, the demand for robust, regulated payment rails has never been greater.”

The raise comes at a time when fintech funding has cooled in many sectors, suggesting that blockchain infrastructure remains a priority for institutions seeking to modernize post-trade processes. Analysts say Fnality’s ability to combine central bank backing with distributed ledger efficiency positions it as a key bridge between traditional finance and emerging digital markets.

Fnality is expected to pursue launches in euro, U.S. dollar, and other major currencies over the next two years, with broader applications in securities settlement, collateral mobility, and cross-border liquidity.