Global investment bank Goldman Sachs and French universal bank BNP Paribas have led a new funding round for blockchain-based wholesale payments firm Fnality. The company has raised £77.7 million ($95.09 million) in its second round of funding, with participation from settlement houses Euroclear and Depository Trust and Clearing Corporation, as well as other investors such as WisdomTree and Nomura. The funding will be used to establish a global liquidity management network for digital payment models in wholesale financial markets and tokenized asset markets. Fnality’s blockchain technology enables institutions to utilize central bank funds for various purposes, including cross-border payments and security transactions. The company aims to launch the Sterling Fnality Payment System in 2023, pending approval from the Bank of England. Fnality was initially launched as part of the Utility Settlement Coin project, which seeks to tokenize major fiat currencies on the Ethereum blockchain. Other global banks, including JPMorgan, are also exploring blockchain and tokenization.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇬🇧 🇫🇷 🇯🇵 🇨🇭 🇺🇸 🇪🇸 🇨🇦 🇩🇪 🇳🇱 🇺🇸 🇯🇵 🇨🇭 🇬🇧 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Mathew McDermott, None |
| Companies | Nomura Group, Depository Trust and Clearing Corporation, Goldman Sachs, WisdomTree, BNP Paribas, Banco Santander, Bank of England, UBS, ING, Nasdaq Ventures, BNY Mellon, State Street, Sumitomo Mitsui Banking Corporation, Fnality, Euroclear, Lloyds Banking Group, Barclays, CIBC, JPMorgan, Commerzbank |
| Currencies | USDJPM, Euro, Ethereum, British Pound, Unidef |
| Securities | None |
