View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 26, 2018

Avaloq buys 10% stake in crypto-currency firm Metaco

Swiss fintech firm Avaloq has acquired a 10% stake in Metaco, a local blockchain and crypto-currency specialist.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The deal forms part of Metaco’s second funding round, which also involved the participation of Swisscom, Swiss Post and SICPA. Financial terms of the deal were not revealed.

Metaco and Avaloq will collaborate going forward, with Avaloq founder and group chairman Francisco Fernandez securing a seat on Metaco’s board.

The two companies will not make any organisational changes as part of the deal.

“The aim of Metaco and Avaloq is to help the financial industry with the opportunities and challenges of blockchain technology by offering outstanding solutions in the field of distributed ledger, cryptocurrencies and digital assets. We believe the world is heading towards accelerated digitalisation of further asset classes and processes,” Fernandez stated.

Metaco founder and CEO Adrien Treccani said: “The enormous potential of distributed ledgers and digital assets in the banking industry has remained largely unexploited due to the lack of integrated solutions and the radically innovative nature of such systems. Therefore, I am extremely excited to be connected to the Avaloq Community even closer.

“Avaloq and the other new shareholders will allow us to specialize even further and accelerate growth in the banking sector.”

Metaco develops cryptographic solutions that can be integrated into a bank’s core processes as well as offers custody solutions for crypto assets. The company, founded in 2014, already offers its solutions on the Avaloq Software Exchange.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International