Today Nomura announced an investment in Fnality, the interbank payment and settlement platform that uses blockchain technology and is now backed by 17 major financial institutions.
Fnality, formerly known as the Utility Settlement Coin, tokenizes money deposited at a central bank to enable the settlement of DLT-based transactions with on-chain digital currency. It is expected to launch its first currency, the British Pound, next month as it has been formally recognized as a payments system by HM Treasury. Other planned currencies are euros, U.S. dollars, Japanese Yen and Canadian dollars.
Reiterating that plan today, Fnality CEO Rohomaios Ram said, “We at Fnality are excited to draw on Nomura’s extensive experience in capital markets across Japan, the U.S. and Europe as we expand beyond the UK.” Sources have told Ledger Insights that Fnality is advancing its digital euro work, as also evidenced by an investment from Euroclear earlier this year. And Fnality was a participant in the recent launch of the DTCC’s Project Ion for U.S. securities settlement.
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