Fnality
@fnality
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London, UK
Joined May 2019
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Banks in Germany are preserving their B2B payments market with
#bankdeposit
#tokens
minted onto DLT networks, as
@LedgerInsights
covers. Interoperability is key to tap into the $125-127tn market, alongside private wholesale CBDC alternatives like Fnality.
2
26
109
The UK has given legal clarity on the issuance of digital assets, a major step forward in the adoption of blockchain technology in finance. Read about this game-changing development and its impact on the industry
#UK
#DigitalAssets
#Finance
#LegalClarity
3
36
77
We’re so excited about our second round of funding, securing the backing of
@GoldmanSachs
,
@BNPParibas
,
@The_DTCC
and many more to continue developing the first 24/7 global payments and liquidity management ecosystem for wholesale finance.
#Fnality
#SeriesB
5
10
77
Fnality has commenced our initial phase of Sterling payment operations in a world-first for both wholesale finance and digital asset markets. We are proud of what has been achieved with initial participants
@LloydsBank
,
@bancosantander
,
@UBS
5
26
48
Last week, Andrew Bailey,
@bankofengland
Governor, supported the growth of wholesale digital money, highlighting ongoing BoE efforts. Fnality has experienced BoE commitment to innovation first hand, and we welcome engagement as we prepare for £FnPS launch.
0
14
45
In a wider insight focusing on
#interoperability
,
@inside_r3
have mentioned Fnality’s settlement infrastructure as an example of the increase in momentum of
#Ethereum
based projects in regulated financial markets.
Thanks for the mention R3!
2
13
40
We are thrilled to have collaborated in the development of
@The_DTCC
’s Project Ion Platform.
While Fnality Payment Systems is an Ethereum based system, DTCC’s Project Ion Platform is underpinned by Corda’s DLT.
Read more about our collaboration below:
5
13
37
#FnalityFacts
There are three key components of Fnality's new global payments system. 1. We operate a true peer-to-peer market. 2. We enable atomic settlement between participants. 3. We support interoperability across platforms and jurisdictions.
#Fnality
#FnPS
#DLT
1
5
34
Delighted to announce - The Utility Settlement Coin (USC) is moving in to its next phase of maturity with the creation of Fnality International and completion of an associated 'Series A' equity round of £50m. - Read the full release
2
20
31
Last month,
@LedgerInsights
reported a new wholesale CBDC pilot with Swiss exchange
@SDX_global
. This marks an exciting step forward for the wholesale CBDC market and a new use case for tokenised cash transactions.
#DLT
#pilot
#tokenised
1
7
28
As governments see the potential opportunities in blockchain and DLT, we're seeing growing investment worldwide. This story from China shows the value of partnership between government and markets.
#DLT
#infrastructure
#innovatio
0
5
27
The new ISO 20022 global payments messaging standard will enable a universal approach to managing cross border payments. This will enhance the speed and transparency of settlements and clarify a consistent standard of communications.
#finance
#paymentsn
0
5
28
#FnalityFacts
- Fnality Payment Systems will reduce liquidity costs in wholesale financial markets. With real-time 24/7 settlements and interoperability, cash can be managed from a ‘single pool of liquidity’, avoiding fragmentation of capital.
#settlement
#intraday
#liquidity
0
9
24
Yesterday Fnality announced the completion of our £77.7m series B round led by
@GoldmanSachs
@BNPParibas
&
@The_DTCC
. Our next chapter starts today with a key focus on our go-to-market activities!
#SeriesB
#Fnality
#DLT
#paymentsystems
1
5
24
Our CEO spoke this week at UK Finance's event, The Future of Regulated Money - Regulated Liability Network (RLN). We heard the latest insights from the innovation landscape and explored key outcomes from the RLN report.
0
4
21
Fnality recognises a major market milestone - Bank of England publishes an omnibus accounts policy to enable innovative payment systems
4
10
20
Alongside HQLAX, and together with
@bancosantander
,
@GoldmanSachs
and
@UBS
, we have successfully completed the first PoC delivery versus
#payment
repo settlement, opening the door for the delivery of the first live
#intraday
repo market.
0
3
21
We have been working closely with
@inside_r3
,
@Adhara_io
and
#HQLAx
on various projects and each time it's clear how crucial interoperability is for the future of the financial services.
#crosschain
#capitalmarkets
#financialservices
#interoperability
1
6
21
At Fnality, we've created a blockchain-based payment system to offer secure and more efficient transactions. This supports the BoE's objectives for financial stability. Read the report to learn more about the BoE's approach.
#BankofEngland
#resilience
0
6
20
Last week, we announced the results from our second round of funding, securing the backing several global financial institutions. We now look ahead to the New Year, and working to transform the landscape for wholesale finance.
#innovation
#SeriesB
#Fnality
4
2
16
Interesting speech on innovation in payments by Jon Cunliffe at
@bankofengland
at Innovate Finance Global Summit. Fnality referenced as initiative delivering tokenised wholesale deposits and the private networks to support them.
#fintech
#digitalinnovation
1
7
20
Check out this
@Forbes
article by Richard Gendal Brown on the necessity of open
#interoperability
for the future of
#enterprise
#blockchain
. Our collaboration with HQLAx was referenced as an example of successful interoperability between two blockchains.
0
7
17
It's exciting to see another global initiative, testing the possibilities and potential of DLT in a regulated space. This report from the New York Innovation Centre is another step towards wholesale cross-border payments.
#DLT
#payments
#settlement
0
10
19
As we build our first Fnality Payment System, we also ought to think about interoperability. At Fnality, we believe in collaboration: between people as well as between different systems. What does interoperability mean in the context of dFMIs?
0
7
19
After our latest funding round this week, we want to recognise the confidence and vision of our backers. We're redrawing the parameters for wholesale finance, opening up a raft of new instant payments and liquidity management use cases.
#DLT
#innovation
0
5
17
UK FinTechs Fnality, Nivaura and Adhara collaborate with NatWest and Santander to execute first cross-chain pilot debt transaction on public Ethereum and Fnality Payment System
0
5
15
The blockchain can have a key role in diversifying access to climate solutions such as carbon credits.
@Nasdaq
's new system paves the way for increased liquidity and standardisation in future carbon marketplaces.
#sustainability
#blockchain
0
4
18
Fnality Payment Systems will be:
✅Available in multiple currencies
✅Capable of inter-operating across multiple business platforms and traditional payment rails
✅A digital representation of money held in a central bank account, meaning 1:1 correspondence with fiat currency
3
5
18
This Friday,
@RhomRam
will be speaking at our webinar with
@warwickuni
: 'A private sector CDBC?'. You can hear why Fnality is being developed, where we are today and how a private sector CDBC will change the market. You can register below.
#Fnality
#CDBC
2
5
17
@LedgerInsights
reports a new programme for banks engaging in DLT for the tokenisation of securities or other assets. The
@federalreserve
will use this to expand its expertise and better understand the risks.
#DLT
#Securities
#tokenisation
0
7
17
Fnality and
@finteum
are collaborating to create intraday FX swaps that settle using the Utility Settlement Coin (USC). If you want to know more on interoperability between
@r3
Corda and USC, come at our 14B stand at Sibos, Discover Zone, at 10am on Tuesday 24th!
🚨 Announcement:
@finteum
@fnality
+ R3 join forces to improve inefficiencies in the foreign exchange industry, using
@cordablockchain
! Learn more:
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90
1
4
16
DLT enables the creation of a new type of FMI; a distributed Financial Market Infrastructure (dFMI). This innovation can address many issues of operational resilience, transparent risk management and inefficient processes.
#FnalityGlobalPayments
#DLT
#blockchainadoption
#dFMI
0
7
16
Interesting from
@Forbes
on the role of tokenised assets as a positive success story for blockchain finance, explains use cases and advantages of tokenisation, including peer-to-peer transactions and capital efficiency.
#DLT
#blockchain
#DLT
#blockchain
1
4
13
We have made great strides in education and collaborative thinking that will enable central banks to grant Fnality an account from which we can operate a Fnality Payment System.
We will be the first DLT regulated payment system to go live in 2022 - watch this space!
1
4
15
We're sure you've heard the news: Fnality has closed a £77.7m Series B round. For more information about our pioneering blockchain-based wholesale payment system pegged, to central bank money, download our new shortpaper.
#FnPS
#futureoffinance
#DeFi
5
2
11
Fnality has today been mentioned by the
@BIS_org
Committee on Payments and Market Infrastructures in their report on ‘Facilitating increased adoption of PvP’.
1
4
15
Fnality payment system is:
✅Available in multiple currencies
✅Capable of interoperating across multiple business platforms
✅A digital representation of money held in a central bank account
If you're interested in finding out more, visit our website:
0
1
14
3 components that bring
#dFMI
to life are: Tokenised central bank money, an interoperability protocol and business platforms.
Central bank money backed digital cash provides the foundations, whilst an interoperability protocol enables this cash to connect to business platforms.
0
7
14
Interesting read from
@LedgerInsights
on Project Mariana (
@BIS_org
) which seeks to demonstrate how commercial banks could transact with wholesale CBDC for foreign exchange transactions. Cross border FX is a use case we're excited to support in the future
1
4
14
Download our new shortpaper! Together with
@inside_r3
and
@adhara_io
we make the case for the future of financial markets.
#FnPS
#settlement
#futureofpayments
0
6
13
It's our last day in the office for the year. Fnality is wishing you a Merry Xmas and Happy New Year! 🤶🎅
See you in 2020!🍾
#fnality
#fnamily
#veryseriouspeople
#usc
0
1
13
We aim to unlock the future of
#financialmarkets
, enabling the use of tokenised assets.
While every day a new type of asset becomes ‘tokenised', a similar on-chain payment asset, that is industry scalable, is still missing.
But Fnality is delivering that new means of payment.
0
4
13
Here is a useful perspective on governance and regulations for DLT in wholesale finance. Read about the regulatory and legal decisions, which will impact the legal landscape for future payments and settlements
#DLT
#regulated
#governance
1
1
11
By acquiring Securrency,
@DTCC
take a step towards a new decentralised post-trade infrastructure.
#DeFi
#DLT
#tokenised
0
2
12
We're thrilled that our CTO, Adam Clarke, was featured in
@YahooFinance
! Adam and his team have tirelessly worked to develop the technology behind our DLT-based settlement system for wholesale payments in central bank money. Read the full article here:
1
3
13
#FnalityFacts
- Our payment systems enable a single liquidity pool by linking real-time PvP and near-instant DvP settlements. Forwards-facing and backwards-facing
#interoperability
empowers participants to gain control over their cash
#paymentsystems
#financialservices
0
5
12
🚀 Exciting news! 🚀 Fnality and
@adhara_io
have successfully demonstrated seamless
#connection
between Adhara's platform and Fnality test payment systems. This can revolutionise the way
#corporatepayments
are executed and settled globally!
#finance
0
2
14
As Visa notes: “Cross-Border offers a huge opportunity for innovation and growth." As Fnality accelerates our journey towards global adoption and development of flexible, same-day cross-border settlement.
#FnPS
#finance
#blockchain
2
0
12
The UK government's retail CBDC consultation paper mentions private sector innovation as one of the main options to delivering a wholesale equivalent, including the new Omnibus Account model and Fnality’s application.
#paymentsystems
#CBDC
#banks
0
1
12
#Fnalityin2022
Milestone 2
Alongside Nivaura and
@adhara_io
, we piloted a cross-chain debt
#transaction
between the public Ethereum and our payment system - demonstrating the ability to offer near-instant settlement in
#capitalmarkets
.
0
4
11
Fnality is 1 year old today - a big thanks to everyone who has been part of the journey so far! Here's to many more years and successes together 🥳
0
3
12
Project Cedar, by New York Innovation Center, unveiled their Phase 2 report. It investigates DLT's power to connect different currency ledgers, lower settlement risk, and speed up settlement time.
#blockchain
#DLT
#crossborderpayments
3
2
11
Congratulations to our colleague Charmaine Short on her nomination in the Wirex Rising Women In Crypto Power List 2023. The judges had over 800 female leaders to select from, reflecting the workrate and expertise Charmaine brings to Fnality.
#womenintech
1
4
9
We are very pleased for our partner
@finteum
who have announced this milestone achievement in their roadmap, and we're glad to be partnered with them as we both work towards to unlocking and enabling the future of
#finance
.
#dlt
#liquiditymanagement
0
2
11
Distributed Ledger Technology underpins the three components of Fnality payments within dFMI and enables us to:
✔️ Operate a true peer-to-peer market
✔️ Allow for immediate settlement
✔️ Interoperate across business platforms and jurisdictions
1
4
10
#FnalityFacts
- In a system like Fnality Global Payments, settlement information on the blockchain allows relevant parties to independently verify transactions. This means they can reach a shared consensus about their validity, avoiding single points of failure.
1
4
11
Welcome back, we hope you have had a restful and healthy start to 2024! As we look ahead to a year full of landmarks for Fnality and the wider world of finance, there is so much to be excited about. We'll bring you all our latest updates, milestones and content across this year.
0
1
11
#FnalityFacts
- Immutability is key for Fnality Payment Systems. With the ledger of transactions on the blockchain, any changes to the record must be agreed by all parties. Reducing the possibility of the ledger being compromised.
#FnPS
#DLT
#blockchain
#immutable
0
0
10
How to we build effective controls for DeFi systems? This piece from
@DTCC
Frank La Salla explains how Fnality is enabling the robust infrastructure to power adoption of digital assets, boost liquidity and transform settlements.
#liquidity
#security
0
1
9
We are a Trad-Fi backed organisation, with substantial DeFi pedigree and longstanding relationships with key central banks.
Our position at the intersection of
#TraditionalFinance
and
#DecentralisedFinance
leaves us well placed to empower both sides.
0
3
9
We are happy to announce that our collaboration with HQLAx has been shortlisted for the 'Best Partnership of the Year' award. To our partners, thank you for taking this journey with us and we look forward to bringing digital Delivery v Payment repo trades to the market.
#finance
0
5
11
BIS recently offered proposals as to how cross-border, cross-currency CBDC payments might flow, terming them multi-CBDC. Fnality Global Payments can address legal and governance issues inherent in multi-CBDC while achieving a secure, resilient solution.
0
3
7
Stephan Mahnke spoke at the
@EYnews
#GlobalBlockchainSummit
and emphasized the importance of having an on-chain cash settlement leg backed by central bank money, to allow market participants to fully benefit from tokenised assets. Listen here (4:15-4:30):
0
3
9
One theme from
#Davos2024
was the migration of financial activities onto the blockchain. We think 2024 will be a turning point for blockchain-based payments and trade settlements in the wholesale market, with new participants and use cases for the FnPS.
0
3
9
#Fnalityin2022
Milestone 9
Our successful completion of the first of it's kind cross-chain FX settlement
#transaction
test across the
@Finteum
Corda-based Platform and the Fnality Payment System proved
#interoperability
could be achieved in both directions.
0
4
9
We were pleased to contribute to
@BIS_org
's CPMI PvP adoption report on reducing settlement risk in FX. Fnality is referenced as an emerging global solution in this space, and we’ll continue to engage with CPMI as work progresses.
#PvP
#settlementrisk
#FX
0
4
9
Interesting read from the World Bank, BIS and others on the benefits and challenges of establishing a multilateral platform. Streamlining cross border payments would increase efficiency and cost savings, and is central to our future plans
#futureoffinance
0
2
10
What will be the biggest talking point in 2023 within the digitised payments sector?
#payments
#digitisedpayments
#banking
#blockchain
Greater use of blockchain
11
Asset tokenisation
59
Broader legal clarity
15
What have we missed?
5
4
6
10
FX transactions will be settled through linked Fnality Payment Systems in real-time on a PvP basis using a protocol that guarantees atomicity. Hence, credit risk in FX settlement is fully eliminated.
#FnalityGlobalPayments
#settlement
#digitalasset
2
4
9
Eurosystem's new RTGS system and central liquidity management tool went live in March. Known as T2, it will enable more efficient transactions, whilst paving the way for innovative services like FnPS to bring T+0 payments to Europe and other jurisdictions.
0
3
8
#FnalityFacts
- Fnality Payment Systems will be fully regulated financial market infrastructures (FMI). We provide a safe, secure and accessible way for institutions to build new DLT use cases for wholesale finance, from cross-border payments to same-day settlements.
#DLT
#FMI
0
0
7
#Fnalityin2022
Milestone 6
@HMTreasury
issued a Recognition Order, which recognised the Sterling Fnality Payment System as a systemically important
#paymentsystem
in the UK, making it the world's first DLT-based,
#fullyregulated
payment system.
0
0
8
#FnalityFacts
- Building our payment systems on
#blockchain
allows transactions to be settled in real time with no need for a lengthy process of verification or reconciliation as the ledger is treated as the single source of truth by all parties
#finance
#DLT
#banking
1
2
8
Check out this summary by
@LedgerInsights
on the Bank of Japan's second CBDC pilot. Central banks' experiments highlight the importance of
#digitalcurrencies
in
#finance
and the benefits a
#CBDC
could offer. Read more here:
0
3
9
Following our collaboration with HQLAᵡ, together with
@bancosantander
,
@GoldmanSachs
and
@UBS
, our CEO
@RhomRam
spoke to The Banker about our PoC achievement:
"This DvP is a significant step for Fnality as we
enable a single pool of liquidity for our participants."
0
1
9
We're here at
@Sibos
, and looking forward to joining other companies in the financial services industry for various talks and networking opportunities.
We will be based at booth DIS21 Discover Area (Innotribe).
#Sibos
#Sibos22
#FnalityatSIBOS
0
3
9
The EU has committed to continuing to allow traders to interact directly with markets, which could save up to $100 billion per year.
#DLT
#pilot
#securities
0
2
8
The
@WEF
has released a report on how
#blockchain
can boost
#climateaction
through enhancing transparency, accountability, and efficiency in climate initiatives. Inspiring to see the potential of blockchain to support
#sustainabilityefforts
!
1
4
7
Have you read the update from
@TheFSB
on how the market is meeting Key Performance Indicators for cross-border payments? Discover the key changes and barriers in areas like processing times and transaction costs.
#crossborderpayments
#FnPS
#Fnality
0
3
8
Central banks are becoming increasingly positive about central bank digital currencies (CBDCs). How is your organisation contributing to the conversation?
#FnalityGlobalPayments
#CBDC
#digitalasset
#tokenisation
#blockchainadoption
#blockchain
#settlement
#peertopeer
#dFMI
1
0
7
#FnalityFacts
- Our payment systems are built to ensure deterministic settlement finality - meaning that settlement, once completed, is irrevocable. This ensures compliance with settlement finality regulations and suitability for institutional applications
#paymentsystems
1
1
7
Thank you to
@PlanetDefi
for the recent feature on their website, which recognises the work we do within the
#fintech
space to achieve fast and secure transactions in multiple currencies with the use of distributed ledger technology.
Read more:
0
7
8
The Payment Systems Regulator have published their latest annual report which is an interesting read. We were pleased to be mentioned throughout the report as the newest and first DLT-based payment system to fall under the PSR's regulation. Read it here:
1
3
8
At
@Sibos
, here are some topics that we will be discussing:
✅ DLT in financial services with
@LloydsBank
✅ Experimenting with digital networks and DeFI
✅ Collaborating to unlock cross-chain FX settlement with
@finteum
#Sibos
#Sibos22
#FnalityatSIBOS
1
3
8
Fnality
#blockchain
startup will spur the digitisation of assets worldwide. Thanks to
@ForbesCrypto
and
@AndreaTinianow
for the interest.
This
#blockchain
company may spur the digitization of assets worldwide via
@ForbesCrypto
@StateStreet
@LinklatersLLP
@josh_blockchain
2
16
42
0
1
8
The future of finance is changing to accomodate the new reality of tokenised currencies. Discover why financial powerhouses are getting excited about the potential of a brand-new way of transacting.
#Fnality
#currency
#wholesale
0
2
8
In this new blog, we make the case for atomicity in an effective, decentralised Financial Market Infrastructure. Have a read and let us know what you think in the comments.
#FnPS
#atomicity
#settlement
#interoperability
0
3
7
On 5th October, our CEO
@RhomaiosRam
will be joining a panel with the CPMI-IOSCO, to talk about the future for DeFi and DLT adoption. Let us know in the comments what topics you're most interested in hearing about.
#DLT
#CPMI
#DeFi
#innovation
1
1
8