Fnality, a blockchain-based payment project, has recently excitedly announced the conclusion of its Series B funding round, raising up to $95 million with Goldman Sachs and BNP Paribas leading the way. Additionally, DTCC, Euroclear, Nomura, and WisdomTree also participated in the round.
“The Series B funding round reflects the financial industry’s expectations for blockchain-based payment solutions, supported by capital from central banks, aiming to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi).”
– Rhomaios Ram, CEO of Fnality International
Notably, prior to this, Fnality also successfully raised $63 million in a Series A round in 2019 from various banks such as Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Group, and UBS.
With the substantial amount of funding just secured, it’s evident that Fnality is attracting the interest of many giants in the financial industry, and these major players are placing their trust in the project.
Fnality, founded in 2019, is a blockchain-based payment project with the goal of transforming fiat currencies like USD into tokenized forms, thereby establishing a 24/7 payment network across financial systems.
Currently, Fnality’s main partners are traditional financial institutions and multinational banks.