Ex-BoE deputy governor headlines trio of former central bankers joining Fnality
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
AI-generated summary based on the linked source; not independently verified. This is not investment advice. Verify market-moving details at the original publisher before acting. See our editorial policy, AI content policy, and financial disclaimer.
Summary
Fnality has appointed Jon Cunliffe, former Bank of England deputy governor, as chair of its UK board. The blockchain settlement company also added former Deutsche Bundesbank director Jochen Metzger and former Dutch central bank official Ron Berndsen to its European subsidiary’s supervisory board. Fnality is developing euro and US dollar payment systems alongside its existing sterling system.
Why it matters
The source highlights that Fnality’s blockchain settlement infrastructure aims to support tokenized asset markets and banks’ activities in stablecoins and tokenized deposits. Settlement using the safest assets, such as central bank money, is positioned as crucial for maintaining financial stability amid growing tokenisation.
Key context
Fnality launched its sterling payment system in 2023, which is regulated by the Bank of England and enables settlements using central bank money. The company has established subsidiaries in Germany and the United States to develop proposed euro and dollar payment systems, respectively, and is engaging with regulators. It raised $136 million in a Series C funding round in September 2025 with investors including Temasek, Euroclear, and Goldman Sachs.
Key numbers and entities
Fnality, Jon Cunliffe, Jochen Metzger, Ron Berndsen, Bank of England, Deutsche Bundesbank, Dutch central bank, Temasek, Euroclear, Goldman Sachs, $136 million Series C funding, Stamford (Connecticut), Eschborn (Germany).
What remains unclear
Details on the specific timelines for launching the euro and US dollar payment systems and how regulatory approvals from the US and European authorities will proceed are not provided. The source does not elaborate on the operational mechanics of the new payment systems or the extent of market adoption anticipated.