Merger of Fnality and Adhara, in conjunction with ioBuilders, aimed at enhancing distributed ledger technology for institutional use.
In a landmark move announced mid-2025, Adhara and ioBuilders, two pioneering firms specialising in Ethereum technologies, have merged to create a leading global provider of blockchain-based software products and services for financial institutions [1][2]. The merger significantly expands their combined product offerings and strategic impact on the financial sector.
### Expanded Product Offerings
The merger brings together Adhara's strengths as a leading software partner for Fnality, the first wholesale digital cash system in commercial use, and its blockchain-based systems for settlement, payments, and fund distribution [1]. On the other hand, ioBuilders boasts regulatory-grade platforms for digital lending and tokenized securities, with services used by prominent banks, asset managers, and financial market infrastructures across Europe [1].
By merging, the combined entity creates a one-stop solution with a comprehensive suite covering blockchain-based settlement and payment systems, tokenized securities issuance and management, digital lending infrastructure, and cross-border payments utilizing stablecoins and tokenized deposits [1]. This consolidation positions the company to support banks and financial institutions in transitioning from pilot blockchain projects to large-scale production deployments [1].
### Strategic Impacts on the Financial Sector
The merger accelerates the adoption of digital finance tools, enabling financial institutions to lead in digital transformation [1]. It also advances the development and deployment of infrastructure supporting the new banking order, centred around stablecoins, tokenized deposits, and cross-border payments—key innovations reshaping traditional finance [1].
Integration efforts such as R3's Corda with Solana, which involve Adhara and ioBuilders, highlight enhanced interoperability between private and public blockchains, fostering new capabilities like delivery versus payment (DVP) atomic settlement, and expanding tokenization opportunities in decentralized finance (DeFi) markets [3]. Financial institutions benefit from greater flexibility, maintaining privacy and compliance while accessing DeFi-style products and services at their own pace, which is expected to be transformational once widely adopted [3].
### Leadership and Investment
The merger leadership includes ioBuilders' CEO Carlos Matilla becoming CEO of the combined entity, with Adhara founders Julio Faura as Chairman and Peter Munnings as COO, signalling strong continuity and expertise [1]. The transaction is backed by significant investors such as Yabeo, Force Over Mass Capital, ConsenSys Mesh, and others, emphasising strong venture support focused on blockchain adoption in finance [1].
### Overall
The Adhara and ioBuilders merger creates a leading blockchain software provider ready to scale innovative digital finance solutions globally. This strategic combination positions the firm to spearhead the financial sector's shift towards blockchain-based infrastructures—enabling improved settlement, lending, payments, and securities issuance—thereby profoundly impacting the way banks and market infrastructures operate in the digital era [1][2][3].
Each company has worked with numerous banks, including the DTCC, Lloyds, Santander, Deutsche Bank, UBS, and the Bank of Spain for a wholesale CBDC and tokenized deposit trial [1]. Julio Faura, CEO of Adhara, describes the merger as a pivotal moment for the financial sector, while Gerrit Seidel, General Partner at Yabeo, views it as strategically significant [1]. The combined company is headquartered in London and has more than 120 staff across offices in London, Spain, South Africa, and Singapore [1]. Yabeo co-led Adhara's 2021 Series A funding [1]. IoBuilders has partnered with the BME stock exchange, IDB, BBVA, Renta 4 Banco, Allfunds, and is a co-founder of the OpenBrick real estate tokenization solution [1].
References: [1] www.finextra.com/pressarticle/88604/adhara-ibuilders-merge-to-create-leading-blockchain-software-provider [2] www.coindesk.com/business/2025/07/14/adhara-ibuilders-merge-to-create-blockchain-powerhouse-for-financial-institutions/ [3] www.coindesk.com/business/2025/09/15/adhara-ibuilders-merger-highlights-enhanced-interoperability-between-private-and-public-blockchains/
- The merger of Adhara and ioBuilders has resulted in a leading global provider of blockchain-based software products and services for the finance industry, offering a comprehensive suite for blockchain-based settlement, payment systems, tokenized securities issuance, digital lending infrastructure, and cross-border payments.
- The combined entity leverages Adhara's strengths in partnership with Fnality, the first wholesale digital cash system in commercial use, and ioBuilders' regulatory-grade platforms for digital lending and tokenized securities, facilitating transitions from pilot blockchain projects to large-scale production deployments for banks and financial institutions.
- With the merger, financial institutions can look forward to enhanced interoperability between private and public blockchains, fostering new capabilities like delivery versus payment (DVP) atomic settlement, and expanding tokenization opportunities in decentralized finance (DeFi) markets.
- Significant investments from firms such as Yabeo, Force Over Mass Capital, ConsenSys Mesh, and others support the merged company in scaling innovative digital finance solutions globally, positioning them to spearhead the financial sector's shift towards blockchain-based infrastructures, with a focus on improved settlement, lending, payments, and securities issuance in the digital era.
