Ex-BoE deputy governor leads trio of ex-central bankers at Fnality

Fnality has appointed former Bank of England deputy governor Jon Cunliffe to chair its UK board. The blockchain settlement company is developing euro and US dollar payment systems. Jochen Metzger, a former Deutsche Bundesbank director general for payments and settlement systems, has joined the European subsidiary’s 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, launched in 2023 and regulated by the Bank of England, enables market participants to settle obligations using central bank money balances. The company’s blockchain settlement infrastructure is designed to support tokenized asset markets and banks’ activity in stablecoins and tokenized deposits. Cunliffe stated that as the tokenisation of financial markets progresses, settlement in the safest assets will be crucial to maintaining financial stability. 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. The London-based fintech raised $136 million in a Series C funding round in September 2025, with participation by investors including Temasek, Euroclear and Goldman Sachs.