Metaco secures $17m in Series A round

Swiss digital asset infrastructure startup Metaco has bagged $17m in a series A funding round.

Giesecke+Devrient led the round, which also saw participation from Standard Chartered Bank, Zürcher Kantonalbank, VC Investiere Swisscom, Sicpa, Avaloq and Swiss Post. Avaloq bagged a 10% stake in Metaco in 2018, the same year as the business was launched.

Metaco will use the money to expand its presence in the US, South East Asia and Western Europe as well as making a push into the central bank digital currency space.

As FinTech Global has reported in the past, central banks around the world have started to investigate whether they should create digital money of their own, showcasing the growth of the cryptocurrency space.

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