Blockchain settlement firm Fnality has appointed former Bank of England deputy governor Jon Cunliffe as chair of its UK board, while also bringing in two other former central banking officials for its European arm. The company said Jochen Metzger, formerly director general for payments and settlement systems at Deutsche Bundesbank, has joined the supervisory board of its European subsidiary and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, has also joined the board. Fnality is expanding beyond its sterling payment system, which launched in 2023 under Bank of England regulation and allows market participants to settle obligations using central bank money balances. The London-based fintech said its blockchain settlement infrastructure is built to support tokenized asset markets as well as banks’ activity in stablecoins and tokenized deposits. It has established a subsidiary in Eschborn, Germany, for its proposed euro system and set up Fnality Bank U.S. in Stamford, Connecticut, where it is working on plans for a dollar system and engaging with US regulators. According to Traxcn data, Fnality raised $136 million in a Series C round in September 2025 from investors including Temasek, Euroclear and Goldman Sachs.
Fnality has appointed former Bank of England deputy governor Jon Cunliffe as chair of its UK board as the blockchain settlement company develops euro and US dollar payment systems.
The company said Thursday that Jochen Metzger, the former director general for payments and settlement systems at Deutsche Bundesbank, had joined the supervisory board of its European subsidiary and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, also joined the board.
Fnality’s sterling payment system launched in 2023 and is regulated by the Bank of England. It allows market participants to settle obligations using central bank money balances.
Infrastructure aimed at tokenized markets
Fnality said its blockchain settlement infrastructure is designed to support tokenized asset markets and banks’ activity in 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,” Cunliffe said in the announcement.
Expansion plans in Germany and the United States
Fnality has established a subsidiary in Eschborn, Germany, to develop its proposed euro payment system. It has also set up Fnality Bank U.S. in Stamford, Connecticut, where it is developing plans for a dollar system and engaging with US regulators.
According to data compiled by Traxcn, the London-based fintech raised $136 million in a Series C funding round in September 2025. Investors in that round included Temasek, Euroclear and Goldman Sachs.
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