According to CoinMeta, and as reported by Bloomberg, former Deputy Governor of the Bank of England Jon Cunliffe has officially joined blockchain wholesale settlement company Fnality and will serve as the chairman of its UK operations entity. Meanwhile, former Head of Payment and Settlement Systems at the Deutsche Bundesbank Jochen Metzger has been appointed as a member of the supervisory board of Fnality Europe and is expected to take on the role of chairman. Fnality was established in 2019 with joint funding from global top financial institutions such as Goldman Sachs, UBS Group, Santander Bank, Bank of America, and Citigroup. Its core business is to operate an institutional-level wholesale payment system that allows commercial banks to use their legal tender balances held with central banks for peer-to-peer settlement on the blockchain. Currently, the company is actively applying for regulatory approval to launch dollar and euro versions of its service.