METACO, a technology solution developer for digital assets, has collected $17m in its oversubscribed Series A round.
The capital injection was led by Giesecke+Devrient, a Germany-based security technology company. Other participants included Standard Chartered Bank, Z?rcher Kantonalbank, Investiere, Swisscom, SICPA, Avaloq Ventures and Swiss Post.
With the capital injection, the company will begin the next phase for sales, product and partnerships. The company is particularly looking to bolster its presence in the US, South East Asia and Europe.
Funds will also used to increase research and development and expand its product suite.
Launched in 2018, METACO offers an institutional operating system for digital assets, which empowers financial institutions to securely integrate cryptocurrencies, tokens and distributed with their existing infrastructure.
Giesecke+Devrient investment director Assaf Shamia said, ?The tokenisation narrative is gaining momentum among regulators and central banks, encompassing a broad spectrum of promising innovations ranging from digital currencies to national identities.
?Yet tokenised assets require a trusted, secure, and scalable solution to handle the safeguarding of private keys. Following extensive market research, we identified METACO as the dominant player in its field.
?This large funding round, completed during a period of notable market uncertainty, is a significant milestone for METACO and will allow the company to accelerate its global growth and anchor its position as a category leader in the crypto-custody market.p>
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