Fnality, a blockchain-based wholesale payments company, has raised $95 million in Series B funding led by Goldman Sachs and BNP Paribas, according to Reuters.
The new funds will be used to build a “world-first” 24/7 global liquidity management network to support new digital payment models in wholesale financial markets and emerging tokenized asset markets.
“Fnality’s use of blockchain technology provides institutions with a resilient way to access central bank money across a wide range of potential use cases, including instant, cross-border, cross-currency payments, collateral liquidity and securities trading,” said Matthew McDermott, global head of digital assets at Goldman Sachs.
Additional investment was also provided by initial round backers Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation and UBS.
Finality raised £55 million in its first funding round in June 2019.
“The completion of this round brings Fnality’s total raised to £132.7 million as the company prepares to commence initial sterling Fnality payment system operations in 2023 (subject to regulatory approvals),” the company said in a statement.