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Former deputy governor of the Bank of England leads the way, and three former central bank officials

2026-09-10 20:41:29
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Fnality appoints former Bank of England deputy governor Jon Cunliffe as chairman of its UK board of directors

Blockchain settlement company Fnality has appointed former Bank of England deputy governor Jon Cunliffe as chairman of its UK board of directors, while the company is advancing the development of euro and dollar payment systems.

The company said on Thursday that Jochen Metzger, former director of Deutsche Bundesbank's General Directorate for Payments and Settlement Systems, has joined the supervisory board of its European subsidiary and is expected to serve as chairman of the committee. Ron Berndsen, a former senior official at the Dutch Central Bank, also joined the board.

Fnality's sterling payment system will be launched in 2023 and will be supervised by the Bank of England. The system allows market participants to use central bank funds balances to settle obligations. The company pointed out that its blockchain settlement infrastructure is designed to support the tokenized asset market and banks 'business activities in the stablecoins and tokenized deposits areas.

Cunliffe said in the announcement: "As tokenization of financial markets accelerates, using the safest assets for settlement will be critical to maintaining financial stability."

Fnality has established a subsidiary in Eschborn, Germany, to develop the proposed euro payment system. In addition, the company has established ality Bank. in Stamford, Connecticut, A US dollar system plan is currently being developed and communicated with US regulators.

According to data compiled by Traxcn, the London-based financial technology company completed a US$136 million Series C financing in September 2025, with investors including Temasek, Euroclear and Goldman Sachs.

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