Ex-BoE deputy governor headlines trio of former central bankers joining Fnality
Fnality has appointed former Bank of England deputy governor Jon Cunliffe to chair its UK board and added Jochen Metzger and Ron Berndsen to the supervisory board of its European unit as it expands beyond its sterling settlement system. The fintech is developing euro and US dollar payment infrastructures alongside its London-regulated sterling platform.
Why It Matters
The new hires bring senior central banking experience as Fnality moves to extend blockchain-based settlement services into euro and dollar markets, a step that could influence how tokenized assets and bank-issued stablecoins settle in central-bank-linked systems.
Key Facts
- New UK chair: Jon Cunliffe, former deputy governor of the Bank of England
- European supervisory board chair: Jochen Metzger, former Deutsche Bundesbank director general for payments and settlement systems
- New supervisory board member: Ron Berndsen, former senior official at the Dutch central bank
- Sterling system launch: Fnality's sterling payment system launched in 2023 and is regulated by the Bank of England
- Settlement method: System enables settlement using central bank money balances
Fnality has named Jon Cunliffe, who previously served as deputy governor of the Bank of England, to chair its UK board as the company deepens work on payment systems for multiple currencies. The firm also added Jochen Metzger, a former Deutsche Bundesbank director general for payments and settlement systems, and Ron Berndsen, a former senior official at the Dutch central bank, to the supervisory board of its European subsidiary. Fnality launched a sterling settlement platform in 2023 that operates under Bank of England regulation and allows participants to settle obligations using balances that represent central bank money. The company positions its blockchain-based infrastructure as a backbone for tokenized asset markets and for bank activity in stablecoins and tokenized deposits. To broaden its footprint, Fnality has established a subsidiary in Eschborn, Germany, to work on a proposed euro payment system and set up Fnality Bank U.S. in Stamford, Connecticut, where it is advancing plans for a dollar system and engaging with US regulators. The appointments of senior former central bankers signal an emphasis on regulatory liaison and payments expertise as the projects progress. Fnality has also secured external capital: Traxcn data shows the London-based fintech raised $136 million in a Series C round in September 2025 with investors including Temasek, Euroclear and Goldman Sachs. Cunliffe emphasized the importance of settling tokenized markets in very safe assets to help preserve financial stability as tokenisation accelerates.
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