Nomura has invested in Fnality, the international consortium of global banks focused on building a blockchain-based payment system to support the adoption of tokenised assets and marketplaces.
Nomura joins 17 shareholder banks, market infrastructures and buy-side firms inching Fnality closer to launch of its global DLT-based wholesale payment and settlement system. It is the forth Japanese financial institution to hitch its wagon to the project, following investments from Mizuho, MUFG and Sumitomo Mtisui Banking Corporation.
Angel Issa, Nomura’s global head of corporate development and strategic investments, comments: “The transformation of financial services powered by blockchain technology is clearly accelerating, and we believe Fnality is uniquely positioned to capitalise on the significant opportunities brought by this evolution. We look forward to leveraging Fnality’s technology and expertise to continue delivering differentiated value to our clients and partners globally.”
Nomura's arrival follows several proof-of-concepts conducted by Fnality's shareholders which showcased the benefits of distributed ledger technology (DLT) in offering near-instant settlement in capital markets and payments.
Rhomaios Ram, CEO Fnality International comments: “We’re incredibly pleased to welcome Nomura, a global financial institution, as our new shareholder supporting our vision for a regulation-first, real-time, wholesale payments system. We at Fnality are excited to draw on Nomura’s extensive experience in capital markets across Japan, the US and Europe as we expand beyond the UK.”