|Headquarters||London, United Kingdom|
|Key People||Rhomaios Ram, CEO; Olaf Ransome, CCO; James Coltman, CFO|
|Products||Digitizing fiat currencies|
Fnality International is an organization backed by a consortium of 13 major banks and Nasdaq which, in cooperation with Clearmatics, a blockchain development firm, is trying to transform clearing and settlement in the interbank market through digitization of fiat currencies. Fnality succeeds the Utility Settlement Coin project to develop blockchain versions of the U.S. dollar, the Canadian dollar, the British pound, the Japanese yen and the euro.
The Consortium banks are UBS, Barclays, Banco Santander, BNY Mellon, CIBC, Commerzbank, Credit Suisse, ING, KBC Group, Lloyds Banking Group, MUFG Bank, Sumitomo Mitsui Banking Corporation, and State Street. In a Series A round, the banks invested about £50 million ($62 million).