Tokenized Cash Fintech Fnality Raises $95M Led by Goldman and BNP Paribas

Fnality, a fintech firm building tokenized versions of major currencies collateralized by cash held at central banks, has raised $95 million (£77.7m) in Series B funding led by Goldman Sachs and BNP Paribas. DTCC, Euroclear, Nomura and WisdomTree participated in the round, which also saw further commitment from a number of banks that backed Fnality’s $63m fundraise back in 2019. The tokenization of traditional finance assets on permissioned, or in some cases public blockchains like Ethereum, is a buzzy topic of late. Fnality, previously known as the Utility Settlement Coin project, is something of an OG when it comes to bringing cash on chain to achieve delivery versus payment (DvP).

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