Fnality Bolsters Leadership with Central Banking Veterans
Fnality, a blockchain settlement company, has made significant additions to its team. The company announced that Jon Cunliffe, former deputy governor of the Bank of England, will chair its UK board. This move comes as Fnality develops euro and US dollar payment systems.
Cunliffe joins Jochen Metzger, a former director general for payments and settlement systems at Deutsche Bundesbank, who has been appointed to the European subsidiary's supervisory board and is expected to chair it. Ron Berndsen, a former senior official at the Dutch central bank, also joined the board.
Fnality's sterling payment system launched in 2023 and is regulated by the Bank of England. It enables market participants to settle obligations using central bank money balances.
Cunliffe emphasized the importance of settlement in safe assets as tokenization gathers pace: 'As the tokenisation of financial markets gathers pace, settlement in the safest assets available will be crucial to maintaining financial stability.'