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Funding round backed by Bank of America, Citi, WisdomTree and others highlights institutional push into tokenized finance.
Updated Sep 23, 2025, 10:30 a.m. Published Sep 23, 2025, 10:30 a.m.
Fnality, a fintech firm building tokenized versions of major currencies collateralized by cash held at central banks, has raised $136 million in a Series C round to expand its blockchain-based wholesale payment systems, the London-based firm said Tuesday.
The investment was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, with existing backers including Goldman Sachs, UBS and Barclays also participating.
Fnality raised $95 million in 2023, a round led by Goldman and BNP Paribas. The firm's settlement infrastructure runs on distributed ledger technology and allows sterling payments to be processed on-chain with central bank money.
The new capital will go toward rolling out similar systems in other currencies, enhancing liquidity management tools and supporting settlement of tokenized assets such as securities and stablecoins, according to a press release.
The firm’s offering enables real-time settlement of trades, delivery-versus-payment for digital securities, and payment-versus-payment for foreign exchange. For banks, that could mean fewer intermediaries, faster settlement and more efficient use of capital. For example, a repo trade that typically takes a day to settle could close instantly, freeing up cash for other transactions.
Fnality CEO Michelle Neal said the funding marks a step toward “a hybrid future of global finance,” where traditional institutions interact seamlessly with decentralized markets. Backers such as WisdomTree and Bank of America framed the investment as part of a broader shift to modernize financial infrastructure for tokenized assets.
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