Fnality Appoints Ex-BoE Deputy Governor Jon Cunliffe as UK Chair

Expanding Central Bank Credibility

The appointments signal Fnality's push to build regulatory confidence as it develops payment systems in multiple currencies. Fnality's sterling payment system launched in 2023 and is regulated by the Bank of England. The system enables market participants to settle obligations using central bank money balances, a core feature that distinguishes it from private settlement networks.

Cunliffe, Metzger, and Berndsen bring decades of experience in payments infrastructure and financial stability. Their board roles underscore Fnality's positioning as a settlement layer for tokenized markets rather than a speculative platform.

Multi-Currency Roadmap

Fnality is developing euro and US dollar payment systems in addition to sterling. The company established a subsidiary in Eschborn, Germany, to develop its proposed euro payment system and set up Fnality Bank U.S. in Stamford, Connecticut, where it is developing plans for a dollar system.

These moves reflect the fintech's ambition to become a global rails provider for central bank money settlement on blockchain infrastructure.

Recent Funding and Market Position

Fnality raised $136 million in a Series C funding round in September 2025, with participation by investors including Temasek, Euroclear and Goldman Sachs. The capital injection funds expansion of its settlement infrastructure as banks explore stablecoins and tokenized deposits.

"As the tokenisation of financial markets gathers pace, settlement in the safest assets available will be crucial to maintaining financial stability" — Jon Cunliffe, chair of Fnality's UK board

Fnality's blockchain settlement infrastructure is designed to support tokenized asset markets and banks' activity in stablecoins and tokenized deposits. The company positions itself as a critical piece of financial infrastructure as digital assets mature.