Fnality Raises $95M in Series B Led by BNP Paribas and Goldman Sachs

Fintech company Fnality, known for creating tokenized versions of major currencies, has raised $95 million in Series B funding, led by Goldman Sachs and BNP Paribas. The funding round includes support from DTCC, Euroclear, Nomura, and WisdomTree, as well as banks from Fnality's 2019 fundraising round. Fnality pioneers blockchain-driven settlement solutions, bridging traditional finance and decentralized finance in wholesale markets.

Fnality's application of shared ledgers for delivery versus payment (DvP) in wholesale banking has positioned it as a key enabler in the growing trend of tokenizing traditional financial assets on blockchains like Ethereum. The Series B funding reflects the financial sector's demand for a central bank-backed blockchain settlement solution.

CEO Rhomaios Ram emphasizes Fnality's role in supporting instantaneous cross-border payments, collateral mobility, and security transactions.

Fnality's Series B funding underscores its significance in advancing the tokenization trend, with Goldman Sachs highlighting its robust approach to using central bank funds for various institutional use cases.