Banking giant Standard Chartered has invested in crypto custody service Metaco British multinational banking corporation Standard Chartered has joined the Series A investment round of crypto custody company Metaco, focused on institutional clients. The main investor is Giesecke + Devrient, which specializes in banknote printing and more recently in the production of smart cards.

Banking giant Standard Chartered invests in crypto custody service Metaco

British multinational banking corporation Standard Chartered has joined the Series A investment round of crypto custody company Metaco, which is focused on institutional clients. The main investor is Giesecke + Devrient, a banknote printing and more recently smart card company.

The volume of subscription to the investment round was twice the offer. Funding received in $eighteen million will be used for expansion in the US, Western Europe and Southeast Asia.

Metaco's main product is called SILO. It allows financial institutions to use cold storage and exchange services, and tokenize assets.

As explained by the head of the venture direction of Standard Chartered Alex Manson, they decided to support Metaco in order to further develop the infrastructure digital assets.

Also, funding was provided by the fourth largest Swiss bank Zürcher Kantonalbank and the Swiss Post. The latter took part in the previous investment round in 2018 year. Olivier Laplace, director of Swiss Post Ventures and member of the Metaco board of directors, noted that the company's user base has grown significantly in three years.

Standard Chartered joined the Enterprise Ethereum Alliance (EEA) last November.

Similar articles

• The court issued an order to freeze $ 680,000 in the assets of the mining company Bitmain The Shenzhen District Court has ordered the freezing of assets for $ 680,000 belonging to a division of the Chinese mining company Bitmain, writes CoinDesk.

  Court Orders Freeze $ 680,000 in Assets of Bitmain Mining Company Shenzhen District Court Orders Freeze Assets for $ 680...

• Chinese authorities have identified 25,000 blockchain companies trying to issue their cryptocurrencies Thousands of companies in China may have tried to issue their cryptocurrencies, CoinDesk writes, citing a report on illegal activities in the blockchain industry published by a government group led by the country's central bank..

  Chinese authorities have identified 25,000 blockchain companies trying to issue their cryptocurrencies Thousands of companies in China may have tried to issue their cryptocurrencies,...

• Bittrex Global Exchange Adds Support For Deposits From Bank Cards While Without Russia Cryptocurrency exchange Bittrex Global this Monday revealed the details of a "major announcement" it promised to make over the past week. According to the press release, from now on, Bittrex Global users will be able to fund their accounts using bank cards..

  Bittrex Global Exchange Adds Support For Deposits From Bank Cards While Without Russia, Bittrex Global Cryptocurrency Exchange Disclosed This Monday...

• Grayscale will transfer $ 2.7 billion worth of cryptocurrency assets to Coinbase Custody.

  Grayscale will transfer crypto assets worth $ 2.7 billion to Coinbase Custody Investment company Grayscale Investments has attracted...