Fnality has completed a $136 million Series C funding round, led by Temasek and Citigroup.

BlockBeats News, September 23rd, According to The Block, UK-based blockchain startup Fnality has raised $136 million in Series C funding, led by WisdomTree, Bank of America, Citigroup, KBC Group, Temasek, and Tradeweb, to expand its global settlement network for banks and tokenized assets.

This London-based company operates a wholesale payment system regulated by central banks and launched the Sterling Fnality Payment System (£FnPS) in December 2023. Fnality's system enables banks to settle digital asset transactions using funds backed 1:1 by the Bank of England, providing real-time payment channels for tokenized bonds, stocks, and repurchase transactions. With this new funding, Fnality plans to expand to other major currencies, build liquidity tools, on-chain workflows, and interoperability with stablecoins and tokenized deposits, the company stated.

Fnality raised $95 million in a 2023 funding round led by Goldman Sachs and BNP Paribas and raised approximately $67 million in 2019 to develop what eventually evolved into the Utility Settlement Coin. With today's funding, the company has raised over $280 million to date.