Former BoE Deputy Governor Joins Fnality Leadership Team

Fnality has made significant additions to its leadership team, naming former Bank of England deputy governor Jon Cunliffe as chair of its UK board. This move comes as the blockchain settlement company develops payment systems in euros and US dollars.

Cunliffe will be joined by Jochen Metzger, a former Deutsche Bundesbank director general for payments and settlement systems, who has been appointed to Fnality's European subsidiary's supervisory board and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, also joins the board.

Fnality's sterling payment system was launched in 2023 and is regulated by the Bank of England. It enables market participants to settle obligations using central bank money balances. The company's blockchain settlement infrastructure aims to support tokenized asset markets and banks' activity in stablecoins and tokenized deposits.