{"id":2672,"date":"2020-07-14T18:58:57","date_gmt":"2020-07-14T16:58:57","guid":{"rendered":"https:\/\/trustvalley.tech\/2020\/07\/14\/metaco-raises-17m-in-series-a-funding-round\/"},"modified":"2020-07-14T18:58:59","modified_gmt":"2020-07-14T16:58:59","slug":"metaco-raises-17m-in-series-a-funding-round","status":"publish","type":"post","link":"https:\/\/trustvalley.swiss\/en\/2020\/07\/14\/metaco-raises-17m-in-series-a-funding-round\/","title":{"rendered":"METACO Raises $17M in Series A Funding Round"},"content":{"rendered":"

METACO<\/a>, a crypto custody platform, today announced a Series A round of $17 million. The round was oversubscribed, with demand over double the initial target, proving continued support from existing investors combined with significant interest from new strategic partners in security technology, central bank infrastructure, Swiss and global banks, and venture firms focused on financial technology, according to the firm.<\/p>\n

Giesecke+Devrient<\/a>, a German based security technology company and one of the main central bank infrastructure partners, led the round.<\/p>\n

Standard Chartered Bank and Zuericher Kantonalbank, and venture capital firm Investiere joined the round which also saw all existing strategic shareholders, Swisscom, SIPCA, Avaloq, and Swiss Post increase their commitments.<\/p>\n

METACO stated that its ability to expand its already significant Swiss strategic partnerships to new global partnerships demonstrates the excitement around METACO\u2019s growth internationally, as well as rising institutional interest in the digital asset space.<\/p>\n

SILO<\/h2>\n

Launched in 2018, METACO\u2019s institutional operating system for digital assets,\u00a0SILO<\/a>, enables large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure. Its unique framework for digital asset custody, transaction management, trading, and tokenization has made it the leading choice for banks and exchanges. METACO has significant Tier 1 and Tier 2 bank implementations including FINMA, BaFin, Banco de Espa\u00f1a, ECB, and MAS regulated banks and exchanges.<\/p>\n

\u201cI 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\u00a0has\u00a0a 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,\u201d Adrien Treccani, CEO and founder of METACO, said.<\/p>\n

Next phase of growth in sales, product and partnerships<\/h2>\n

The Series A funding will drive the next phase of METACO\u2019s growth in sales, product, and partnerships, METACO explained.<\/p>\n

More specifically, the firm will be broadening its presence in the US, South East Asia, and Western Europe. Research and development are at the core of METACO\u2019s business strategy, so it will significantly increase investment in R&D to remain as the leader in digital asset infrastructure.<\/p>\n

METACO will expand its product and addressable market with the launch of its new fully managed, secure, and cloud-based offering, SILO, that will open up the solution to the entire institutional market.<\/p>\n

Assaf Shamia, investment director at Giesecke+Devrient added that the tokenization narrative is gaining momentum among regulators and central banks, encompassing a broad spectrum of promising innovations ranging from digital currencies to national identities.<\/p>\n

\u201cWe believe that digital assets are here to stay as an asset class. However, the infrastructure is still very nascent. We are developing a venture to meet the demands of institutional investors for an end-to-end institutional-grade custodian of digital assets, which meets regulatory standards. We are pleased to partner and invest in METACO, as a leading provider of security-critical digital asset infrastructure, which will provide both ease of use and uncompromising security,\u201d Alex Manson, global head of SC Ventures, the innovation, fintech investment and venture arm of Standard Chartered, said.<\/p>\n

\u201cSICPA was an early investor in METACO and continues to have high confidence in its market leading capabilities. METACO\u2019s custody solutions for Central Bank Digital Currency fit SICPA\u2019s vision for coexistence and complementarity between CBDC and traditional cash payments,\u201d Kalin Nicolov, head of digital currency at SICPA,\u00a0added.<\/p>\n

Finance Magnates: https:\/\/www.financemagnates.com\/cryptocurrency\/metaco-raises-17m-in-series-a-funding-round\/<\/p>\n","protected":false},"excerpt":{"rendered":"

METACO, a crypto custody platform, today announced a Series A round of $17 million. 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