Fnality, a UK-based company enabling instant wholesale payments between financial institutions using blockchain technology, announced on September 24, 2025, that it has secured £99.7 million ($136 million) in a Series C funding round. The capital is designated for the expansion of its infrastructure to additional global currencies, following the launch of its Sterling operations in late 2023.
The Series C funding round was co-led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. Additional support came from Banco Santander, Barclays, DTCC, Euroclear, ING, Nasdaq Ventures, State Street, UBS, BNP Paribas, and Goldman Sachs. BNP Paribas and Goldman Sachs had previously led a £77.7 million Series B round for Fnality in November 2023. This earlier investment enabled the company to launch its Sterling Fnality Payment System in the UK the following December, which processes wholesale payments between financial institutions utilizing distributed ledger technology (DLT) with transactions settled through central bank funds.
Proceeds from the Series C will fund strategic initiatives, including extending the network’s footprint to other major currencies, delivering solutions to optimize liquidity management, and facilitating the emerging payment ecosystem by providing settlement interoperability for innovations such as stablecoins and tokenized deposits.
Fnality’s website indicates plans to develop a US dollar counterpart to its Sterling Fnality Payment System, confirming that discussions with US regulators are ongoing to realize a multi-currency ecosystem. The company reports making steady progress on this initiative.
The backing from European institutions such as ING, Banco Santander, KBC Group, and Euroclear, a provider of post-trade security settlement, fund management, collateral management, and data services, could also accelerate the development of a Euro-based system.
