Major Fundraising for Fnality
Fnality, a London-based company specializing in blockchain payments, recently concluded an impressive fundraising cycle, raising over $95 million. This fundraising was led by two heavyweights in finance: Goldman Sachs and French company BNP Paribas.
Other participants include DTCC, Euroclear, Nomura, WisdomTree, as well as several banks that supported Fnality in its previous $63 million fundraising in 2019.
Fnality creates tokenized versions of fiat currencies supported by funds held with central banks.
The Impressive Evolution of Fnality
Fnality initially started out as a consortium of banks, but its focus has evolved over time, now aiming to bridge the gap between blockchain and traditional financial systems.
Despite delays in obtaining certain regulatory approvals, Fnality has continued to grow, including conducting a proof-of-concept for the issuance of a tokenized financial asset on Ethereum in 2022.
With this new injection of funds, Fnality appears well-positioned to contribute to the democratization of payment systems in the financial sector.
In conclusion, this fundraising marks a crucial milestone for Fnality, highlighting the growing interest of major financial institutions in blockchain technologies and digital assets.