Former Central Bankers Join Fnality as Blockchain Settlement Firm Expands

Fnality has appointed Jon Cunliffe, former deputy governor of the Bank of England, to chair its UK board as the blockchain settlement company works to extend its infrastructure beyond its existing sterling payment system. The move comes alongside two other senior central banking appointments to bolster oversight as the firm expands internationally.

European and Dutch Officials Join Supervisory Board

Jochen Metzger, formerly a director general for payments and settlement systems at Germany’s Bundesbank, has joined Fnality’s European subsidiary supervisory board and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, has also joined the board. Fnality’s sterling payment system, which launched in 2023 and operates under Bank of England regulation, allows market participants to settle transactions using central bank money.

Company Targets Euro and Dollar Expansion

Fnality’s blockchain infrastructure is designed to support tokenized asset markets and bank activity involving stablecoins and tokenized deposits. The company has established a German subsidiary to develop a euro-based payment system and set up a US entity in Connecticut to explore a dollar system while engaging with American regulators. Fnality raised $136 million in a Series C funding round last year, with backing from investors including Temasek, Euroclear and Goldman Sachs.