News - Goldman Sachs and BNP Paribas invest in Fnality

By Luc Vesters

Goldman Sachs and BNP Paribas invest in Fnality

Major banks Goldman Sachs and BNP Paribas participated in a funding round for the blockchain start-up Fnality. This reported Bloomberg. The British blockchain company managed to raise a total of US$95.2 million. In addition to Goldman Sachs and BNP Paribas, asset manager Wisdom Tree also invested.

In its first round of funding some four years ago, the start-up managed to raise £55 million. At the time, its backers included UBS, Santander and Barclays. Fnality was founded in 2019. The start-up is a spin-off from a project led by UBS Bank. The company focuses on optimizing payment transactions for institutional players based on blockchain.

J.P. Morgan offers similar blockchain platform with Onyx. Just recently, the large German company Siemens used it to make its first programmable payment.

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