Fnality offers a regulated, distributed‑ledger‑technology payment system that enables wholesale banks and financial institutions to settle interbank payments in real‑time with 1:1 backing by central‑bank funds. The platform provides 24/7 atomic settlement, intraday liquidity optimisation, and seamless interoperability with legacy and DLT‑based systems, reducing settlement risk and eliminating intermediary steps.
Funding
$228.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BPGSFounders
Product
Problem
Wholesale interbank payments rely on legacy settlement systems that operate only during business hours, involve multiple intermediaries, and lack real-time finality, leading to liquidity inefficiencies and operational risk for banks.
Solution
Fnality provides a regulated, distributed‑ledger‑technology (DLT) payment system that enables 1:1 backed, real‑time atomic settlement of digital cash between participating banks. Central bank funds are held as collateral, ensuring each transaction is fully backed and final at the moment of settlement. The platform operates 24/7, allowing banks to optimise intraday liquidity and reduce exposure to settlement risk. Seamless interoperability with existing legacy and DLT‑based applications enables instant delivery versus payment (DvP) across borders, while maintaining compliance with regulatory standards.
Target Audience
Primary customers are wholesale banks and financial institutions that require fast, secure, and fully backed settlement of interbank payments, as well as corporate treasury departments seeking real‑time liquidity management.
Features
- Fully regulated DLT‑based payment system (Sterling FnPS) with Bank of England oversight
- Real‑time, atomic settlement of digital cash backed 1:1 by central bank funds
- 24/7 availability supporting continuous intraday liquidity optimisation
- Seamless integration with legacy banking systems and other DLT applications
- Cross‑border interoperability enabling instant peer‑to‑peer settlement across jurisdictions
- Risk reduction through collateralised settlement and elimination of intermediary steps