Fnality adds Goldman, BNP Paribas, DTCC in $95m funding round
Goldman Sachs, BNP Paribas and DTCC joined Fnality's £77.7 million Series B funding round. Formerly called Utility Settlement Coin, Fnality plans to offer a wholesale payment and settlement platform using stablecoins backed by deposits at central banks. So far it's operational only in the U.K., where banks can transfer money from their Bank of England accounts to the Fnality UK central bank account where it’s tokenized. Because the money is tokenized it enables instant atomic securities transaction settlement. One of the intended use cases is cross currency payments, but that will need the cooperation of other central banks, which has been slow in coming. https://www.fnality.org/news-views/fnality-international-raises-77.7m-in-series-b-funding-round
