Say Goodbye to Traditional Finance: Fnality Raises $95 Million in Series B Funding

Fintech Firm Fnality Secures $95M Investment from Goldman Sachs and BNP Paribas for Tokenized Cash Solution

Tokenized cash fintech, Fnality, has raised $95M in funding, with Goldman and BNP Paribas leading the investment.

Picture this: a fintech firm called Fnality is on a mission to revolutionize traditional finance with the power of blockchain. They recently raised a whopping $95 million in Series B funding, and the key players leading the charge are none other than the heavyweight champions of investment banking: Goldman Sachs and BNP Paribas.

But that’s not all – joining the battle are major financial giants like DTCC, Euroclear, Nomura, and WisdomTree. And hold your horses, because the epic saga continues. Fnality’s previous backers, including Banco Santander, BNY Mellon, Barclays, and many more, have also doubled down on their support. It’s like a gathering of the gods of finance, all united in their belief in the potential of tokenized currencies.

Now, what exactly is this tokenization frenzy all about? Well, imagine taking traditional assets from the world of finance and putting them on the blockchain. It’s like turning paper money into a digital superhero, ready to take on the financial universe. And Fnality, previously known as the Utility Settlement Coin project, is at the forefront of this revolution.

Their ultimate goal? To achieve delivery versus payment (DvP) for wholesale banking using shared ledgers. Think of it as cash on a chain – a bridge connecting the forces of traditional finance with the decentralized power of blockchain. It’s like bringing Batman and Superman together to fight crime in Gotham City.

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In the words of Rhomaios Ram, the CEO of Fnality International, their Series B funding round represents a desire for a central bank money-backed blockchain-based settlement solution. It’s a fusion of traditional finance (TradFi) and decentralized finance (DeFi) in the wholesale markets. It’s like mixing oil and water to create a majestic rainbow in the financial sky.

And guess who’s cheering from the sidelines? None other than Mathew McDermott, the head of digital assets at Goldman Sachs. He sees Fnality as a key enabler in the mesmerizing world of tokenization. With their application of blockchain technology, institutions can now harness the power of central bank funds for instant cross-border payments, collateral mobility, and security transactions. It’s like having a magic wand that opens doors to endless possibilities.

So, my fellow digital asset investors, the future is now. Say farewell to the old ways of finance and embrace the blockchain revolution. With Fnality leading the charge, we’re about to witness a transformation that could make Bruce Wayne jealous. So fasten your seatbelts, because it’s going to be one heck of a ride!

Original article edited by Stephen Alpher.

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Hey there, fellow investors! Are you ready to join the revolution and embrace the power of blockchain in finance? Share your thoughts in the comments below. And remember, the future belongs to those who dare to innovate!

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