Former Central Bankers Join Blockchain Payments Firm Fnality

Fnality, a blockchain-based payments company backed by some of the world's biggest banks, has attracted two high-profile recruits from the central banking community. Former Bank of England deputy governor for financial stability Jon Cunliffe will chair the board of Fnality's UK entity, while former Deutsche Bundesbank director general for payments and settlement systems Jochen Metzger has been appointed to the supervisory board of Fnality Europe.

Cunliffe's appointment is seen as a significant boost to Fnality's efforts to bring mainstream assets onto new digital networks. As deputy governor for financial stability at the Bank of England, Cunliffe played a key role in overseeing the UK's financial system and responding to crises such as the 2008 global financial crisis.

The appointments come as financial institutions ramp up their efforts to develop blockchain-based payment systems. Fnality is one of several companies working on these projects, which aim to create faster, cheaper, and more secure ways for banks to transfer funds between each other.