- Fnality secures $136 million to expand blockchain payments backed by major banks.
- Bitcoin consolidates near $113K as Ethereum rises after market dip.
- Pudgy Pandas meme token raises $2.87 million in Asian presale and targets global expansion.
As crypto markets consolidated following Monday’s sharp decline, London-based blockchain payments firm Fnality International Ltd. has raised $136 million in fresh funding as leading financial institutions continue to explore infrastructure for digital assets.
Bitcoin traded at $112,929.42, largely unchanged from the previous day and down about 9% from its all-time high of $124,500.
Ethereum stood at $4,192.29, up roughly 0.2% over the past 24 hours.
The funding round for Fnality was led by Bank of America, Citigroup, KBC Group, Tradeweb Markets, Temasek and WisdomTree, with participation from existing backers Goldman Sachs, UBS and Banco Santander.
Proceeds will be used to expand Fnality’s payments network, accelerate product development and secure regulatory approvals in new markets.
While the company focuses on institutional blockchain infrastructure, the broader crypto space is also seeing momentum in retail-driven meme tokens, with Pudgy Pandas gaining early traction across Asia.
Institutional blockchain payments accelerate through Fnality
Founded in 2019 from a UBS-led blockchain initiative, Fnality has emerged as a leading firm aiming to modernize the settlement layer of financial markets. Its platform enables banks to transact in digital cash assets that are backed 1-to-1 by central bank reserves, starting with the Bank of England.
This setup is designed to make settlement of tokenized assets—such as equities and bonds—faster and more efficient by providing the “cash leg” of these transactions.
Fnality launched its pound-denominated payments system in 2023 and is now seeking approval to expand into other major currencies.
CEO Michelle Neal said the new funding will support scaling operations and obtaining regulatory clearances in additional jurisdictions.
The company’s progress reflects a broader trend in traditional finance, where major institutions increasingly explore blockchain to improve efficiency and reduce risk.
Although the technology has been piloted in banking for more than a decade, widespread adoption remains limited and only a few commercially viable systems are fully operational.
Recent moves by competitors—such as JPMorgan testing a deposit-backed token called JPMD and HSBC rolling out tokenized deposit services—underscore growing institutional interest in blockchain solutions.
Pudgy Pandas gains momentum
Alongside institutional adoption, retail-focused crypto momentum remains strong as meme-driven projects continue to attract investor attention.
Pudgy Pandas, a token originating in Asia, is currently in presale and quickly gaining traction across China, Korea, Japan and wider East Asia.
The project has raised $2.87 million so far during its presale, which runs through October 18, 2025.
The presale features staged price increases and the token is scheduled for listing immediately after the sale concludes.
Pudgy Pandas distinguishes itself with tokenomics centered on preservation and community initiatives. Ten percent of the supply is allocated to panda-related charities under a long-term vesting schedule, while another 10% supports a “birth initiative” that burns tokens whenever a panda cub is born, increasing scarcity.
Other efforts include awareness campaigns focused on panda welfare, protests against captivity, and high-profile marketing under the #FreeThePandas movement.
Asian traders have historically driven early success for meme tokens like Shiba Inu, Bonk, Floki and Pengu, some of which delivered returns of thousands of percent.
Investors in Pudgy Pandas expect strong early interest, combined with Asia’s dominance in trading volumes, to propel the project toward a multibillion-dollar market valuation.
Taken together, Fnality’s institutional blockchain push and Pudgy Pandas’ retail-driven momentum highlight the wide range of approaches shaping today’s digital asset market—from central-bank-connected settlement systems to viral meme tokens.