Swiss digital asset infrastructure startup Metaco has raised $17 million in a series A funding round led by Giesecke+Devrient and joined by Standard Chartered Bank and Zürcher Kantonalbank.
VC Investiere and existing shareholders Swisscom, Sicpa, Avaloq, and Swiss Post joined the round.
Launched in 2018, Metaco’s institutional operating system for digital assets, Silo, enables large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure.
The firm has built up a roster of Tier 1 and Tier 2 bank implementations including at Finma, BaFin, Banco de España, ECB, and MAS regulated banks and exchanges.
The new funding will be used to broaden the company's presence in the US, South East Asia and Western Europe as well as to step up research and development.
Metaco is also planning to tap into its relationships with G+D and Sicpa - two leaders in the supply of security technology to central banks - to make a push into the Central Bank Digital Currency space.
Adrien Treccani, CEO, Metaco, says: "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."