The PHA Group renews with Fnality

by | Mar 18, 2024

18th March 2024 – Fnality International has renewed with The PHA Group, to lead the development and execution of its international PR and communication strategy. Having first partnered with The PHA Group in November 2021, the announcement comes at a pivotal time for Fnality as it enters a new stage of international growth.  

Founded in 2019, Fnality has developed the world’s first distributed ledger technology (DLT)-based wholesale payment system – settling live payments in a digital representation of sterling central bank funds. It brings together the safety and institutional quality of central bank money with the innovative functionality and resilience of blockchain technology.  

The PHA Group has supported Fnality through several key milestones, from proof of concepts, the completion of a £77.7 million Series B funding round, and the beginning of its initial phase of its Sterling payment operations; a world-first for both wholesale finance and digital asset markets. The PHA Group has acted as a strategic PR consultant, advising and executing multiple campaigns to deliver the desired amplification of Fnality’s key milestones. 

The business joins The PHA Group’s growing portfolio of fintech clients looking to international expansions.  

Nicola Els, Head of Growth at Fnality International, commented: “We are delighted to renew our partnership with PHA, following the implementation of many successful media campaigns. The team’s commitment and passion for elevating communications strategies shines through in the results they deliver and we’re excited to see what we’ll achieve as Fnality expands its reach across participants, use cases, and regions.” 

Rhys Merrett, Head of Technology PR at The PHA Group, commented: “Working with Fnality these past few years has been a privilege, challenging the team to evolve and elevate their skills to execute on a complex yet extremely rewarding brief. 

“The continued partnership underscores our passion for communicating the successes of innovative technology companies – spanning international media, technical use cases, and growth stories. Our expertise in blockchain PR has been integral to this, and we look forward to being part of Fnality’s ongoing journey as it revolutionises wholesale finance.”  

About The PHA Group  

The PHA Group is one of the UK’s top independent PR, Digital, Creative, and Crisis Management agencies, creating campaigns with meaningful messages to drive real impact. Its consumer, corporate and reputation specialists deliver transformational results for clients, including household brands, international corporations, ambitious start-ups and individuals with a story to tell.  

About Fnality International  

Founded in 2019, Fnality is developing a series of regulated, DLT-based wholesale payment systems in key jurisdictions, each overseen by its home central bank. In each Fnality Payment System (FnPS), participants use settlement balances in an account directly at the central bank to make wholesale payments in real-time. These settlement balances are bankruptcy remote and backed 1-to-1 by central bank money in the relevant currency. FnPS offers banks a faster, safer, and more resilient system for managing digital payments, and supports the growing industry adoption of tokenised assets and marketplaces.    

Fnality’s interoperable network of distributed Financial Market Infrastructures (dFMIs) will provide a composable, compelling suite of use cases. The launch of FnPSs in other core jurisdictions will enable real-time cross-currency payments on a 24/7 basis, with the central bank money credit quality of the underlying settlement balances providing the missing ingredient for novel digital asset markets: an institutional-grade on-chain cash asset. With the linkage of a real-time, cross-currency payment versus payment (PvP) capability in these assets to the ability to settle any delivery versus payment (DvP) transaction atomically and on a real-time basis, participants in FnPS are empowered to manage virtually the entirety of their cash and collateral from a single, global pool of liquidity.   

Fnality’s shareholders comprise: Banco Santander, Barclays, BNP Paribas, BNY Mellon, CIBC, Commerzbank, DTCC, Euroclear, Goldman Sachs, ING, KBC Group, Lloyds Banking Group, Mizuho Financial Group, MUFG Bank, Nasdaq Ventures, Nomura, Sumitomo Mitsui Banking Corporation, State Street Corporation, UBS and WisdomTree.  

For more information, please visit www.fnality.org   

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