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Why crypto sceptic Airwallex just backed a $45m blockchain startup

Why crypto sceptic Airwallex just backed a $45m blockchain startup

Loong Wang’s Metal is a Melbourne-San Francisco startup that raised a huge $37 million seed round. The startup was incubated by Airwallex founder Jack Zhang himself, and the fintech unicorn is its biggest backer.
Loong Wang splits his time between Melbourne and Silicon Valley. Credit: Australian National University.

It is no secret that cryptocurrency infrastructure has issues. Consider the retail experience: You walk to your local and buy a coffee using a tiny fraction of Bitcoin. The merchant now has your digital wallet details. Because blockchains are public, they can now see exactly what’s in it – plus your…

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