Accordingly, there are provided coated microcapsules including: a microcapsule including a polymeric shell and a liquid core material encapsulated therein; and a metallic coating surrounding said microcapsule, wherein the metallic coating comprises particles of a first metal adsorbed on said polymeric shell and a film of a second metal formed thereon; wherein said particles of the first metal are charge-stabilized nanoparticles; processes for preparing the coated microcapsules, as well as formulations related thereto are also included.