Along with existing investors, Standard Chartered Bank, Zürcher Kantonalbank, and venture capital firm Investiere also participated in the funding round
METACO will also the funding to increase investment in R&D. (Credit: Capri23auto/Pixabay.)
Swiss digital asset infrastructure provider METACO has raised $17m in a series A funding round led by the Germany-based security technology provider Giesecke+Devrient.
Existing investors including strategic shareholders, Swisscom, SICPA, Avaloq, and Swiss Post, along with Standard Chartered Bank, Zürcher Kantonalbank, and venture capital firm Investiere also participated in the funding round.
METACO’s SILO, an institutional operating system for digital assets is capable of enabling large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure.
SILO was launched by the company in 2018.
The tool features advanced framework for digital asset custody, transaction management, trading, and tokenisation, making it preferred solution for banks and exchanges.
In addition, the company has major Tier 1 and Tier 2 bank implementations including FINMA, BaFin, Banco de España, ECB, and MAS regulated banks and exchanges.
METACO to expand presence in US, South East Asia, and Western Europe
METACO said that the Series A funding would strengthen the next phase in its growth in sales, product, and partnerships, and will expand its footprint in the US, South East Asia, and Western Europe.
The company will also utilise the funding to increase investment in research and development, to strengthen its position as the major player in digital asset infrastructure.
METACO CEO and founder Adrien Treccani said: “I am really proud of our team and this funding round will push us to new heights. METACO not only secured an impressive round of funding, but also has a number of significant partnerships and integrations coming down the pipeline.
“I look forward to working with our new shareholders and encourage companies to get in touch to explore possible synergies.”