Goldman Sachs and BNP Paribas Invest $95M in Blockchain Company Fnality

London-based blockchain company Fnality has recently received a significant investment of $95 million from top financial institutions including Goldman Sachs and BNP Paribas.

Other investors who participated in the funding round include DTCC, Euroclear, Nomura, and WisdomTree.

Many of the same banks who supported the company in its previous funding round in 2019, which raised $63 million, also participated.

These banks include Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS.

Fnality’s main goal is to create tokenized versions of fiat currencies, backed by funds held in central banks.

The company was founded in 2019 by a consortium of major financial institutions, including UBS, who announced the launch of a “bitcoin-like token” called USC (utility settlement coin).