Finance10 September, 20262 min read
Fnality Appoints Jon Cunliffe, Jochen Metzger, and Ron Berndsen To Chair UK Board
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Jon Cunliffe, former Bank of England deputy governor, chairs Fnality UK board. Jochen Metzger, former Bundesbank official, joins Fnality Europe supervisory board and is expected to chair.
6 outlets told this the same way.
Fnality adds central bankers
Fnality named former Bank of England deputy governor Jon Cunliffe to chair its UK board as it develops euro and US dollar payment systems. The company said Thursday that Jochen Metzger, a former Deutsche Bundesbank director general for payments and settlement systems, joined the supervisory board of its European subsidiary and was expected to chair it. Ron Berndsen, previously a senior official at the Dutch central bank, also joined the supervisory board as Fnality’s sterling payment system—launched in 2023—remains regulated by the Bank of England.
“As the tokenisation of financial markets gathers pace, settlement in the safest assets available will be crucial to maintaining financial stability.”
Fnality said its sterling system enables market participants to settle obligations using central bank money balances, and it positions its blockchain infrastructure as designed to support tokenized asset markets and banks’ activity in stablecoins and tokenized deposits. In the announcement, Cunliffe said: "As the tokenisation of financial markets gathers pace, settlement in the safest assets available will be crucial to maintaining financial stability."
Euro and dollar expansion
Fnality said it established a subsidiary in Eschborn, Germany, to develop its proposed euro payment system as it expands beyond sterling. Separately, it set up Fnality Bank U.S. in Stamford, Connecticut, where it is developing plans for a dollar system and engaging with US regulators. Ledger Insights described Fnality’s strategy as providing wholesale settlement in multiple currencies, enabling institutions to make payments and move money around the world 24/7.
Ledger Insights also said Fnality’s US subsidiary received an 18-month interim approval as a state chartered innovation bank in April 2025, with a hearing for an extension scheduled for next week. In the same coverage, Ledger Insights noted that since the late 2023 launch of the Fnality UK offering (£FnPS), it has only publicly onboarded four banks, Lloyds, Santander, UBS and BNP Paribas.
Funding and what to watch
Fnality’s board appointments came alongside funding momentum, with the company raising $136 million in a Series C funding round in September 2025, according to data compiled by Traxcn. Menafn said participation in that round included investors such as Temasek, Euroclear, and Goldman Sachs, as Fnality’s governance leadership strengthened across the UK and Europe. The Menafn piece framed Fnality’s work as a financial stability issue, saying the company positions its infrastructure as a foundation for tokenized asset markets and stablecoin/tokenized deposit activity by banks.
Ledger Insights added that a US approval could change the rollout scale, while it also pointed to the Eurosystem’s wholesale DLT infrastructure, Pontes, launching in two weeks. Looking ahead, Menafn said observers should watch for signals of regulatory engagement turning into concrete milestones as Fnality progresses its euro and US dollar settlement rails from planning toward implementation.