Fnality, a blockchain settlement company, has appointed former Bank of England deputy governor Jon Cunliffe to chair its UK board. The company is expanding its payment systems beyond sterling to include euro and US dollar offerings, with other former central bankers joining its European and US subsidiaries.
The appointments of experienced central bankers signal Fnality's intent to build trust and navigate regulatory landscapes as it expands its blockchain-based payment systems, potentially impacting how wholesale markets settle transactions in central bank digital currencies and tokenized assets.
Fnality, a company focused on blockchain settlement infrastructure, has appointed three former central bankers to key roles as it expands its operations. Jon Cunliffe, former deputy governor of the Bank of England, will chair Fnality's UK board. Jochen Metzger, who previously served as director general for payments and settlement systems at Deutsche Bundesbank, has joined the supervisory board of Fnality Europe and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, has also joined the European subsidiary's supervisory board.
Fnality's existing sterling payment system, which launched in 2023 and is regulated by the Bank of England, allows market participants to settle obligations using central bank money balances. The company aims to support tokenized asset markets and facilitate banks' activities in stablecoins and tokenized deposits.
To support its growth, Fnality has established a subsidiary in Eschborn, Germany, for its proposed euro payment system and Fnality Bank U.S. in Stamford, Connecticut, to develop plans for a dollar system and engage with US regulators. In September 2025, the fintech company raised $136 million in a Series C funding round from investors including Temasek, Euroclear, and Goldman Sachs.