Former Bank of England Deputy Governor Joins Fnality's Board
Blockchain settlement company Fnality has appointed former Bank of England deputy governor Jon Cunliffe to chair its UK board. He is joined by two other former senior central bankers who will help lead its European operations as the company builds new payment systems.
The appointments aim to support Fnality's expansion beyond its existing sterling payment system into euro and US dollar settlements.
- Jon Cunliffe, former Bank of England deputy governor, will chair Fnality's UK board.
- Jochen Metzger, former Deutsche Bundesbank director general, has joined Fnality Europe's supervisory board and is expected to chair it.
- Ron Berndsen, a former senior official at the Dutch central bank, also joined Fnality Europe's board.
- Fnality's blockchain settlement infrastructure is designed to support tokenized asset markets and bank activity in stablecoins.
What the Company Announced
Fnality stated in its announcement that Cunliffe, Metzger, and Berndsen have joined its supervisory boards. Cunliffe will lead the UK board, while Metzger is expected to chair the European subsidiary's board. The company's blockchain settlement infrastructure is designed to support tokenized asset markets and banks' activity in stablecoins and tokenized deposits.
Quotes on the Development
In the announcement, Jon Cunliffe commented on the importance of safe settlement for financial stability. "As the tokenisation of financial markets gathers pace, settlement in the safest assets available will be crucial to maintaining financial stability," he said.
Details on Fnality's Operations and Funding
Fnality's sterling payment system launched in 2023 and is regulated by the Bank of England. It allows market participants to settle obligations using central bank money balances. The company has established a subsidiary in Eschborn, Germany, to develop a proposed euro payment system. It has also set up Fnality Bank U.S. in Stamford, Connecticut, to develop plans for a dollar system and engage with US regulators. According to data compiled by Traxcn, Fnality raised $136 million in a Series C funding round in September 2025, with investors including Temasek, Euroclear, and Goldman Sachs.
Confirmed Facts
The following is confirmed by the source material: Jon Cunliffe, Jochen Metzger, and Ron Berndsen are former central bankers who have joined Fnality's boards. Fnality's sterling payment system is live and regulated by the Bank of England. The company is developing euro and US dollar payment systems. It raised $136 million in a Series C round in September 2025.
Why This Development Matters
The hiring of prominent former central bankers signals the integration of traditional finance expertise into a blockchain-based financial infrastructure company. Fnality's stated goal is to support the growing tokenization of financial markets by providing settlement in central bank money.
