Fnality International (Fnality) is the commercial realisation of a four-year Research & Development project that has focussed on understanding how market infrastructure needs to evolve to meet the challenge. Fnality International has been founded to create a network of decentralised Financial Market Infrastructures (dFMIs) to deliver the means of payment-on-chain in tomorrow’s wholesale banking markets. Fnality, backed by a consortium of Financial Institutions including many of the Globally Systemically Important Banks (GSIBs) who sponsored the “USC Project”, believe that there will be widespread adoption of tokenisation, both for new and for existing assets, creating new Value Chains. A means of payment is an essential need for those Value Chains.