"Nice to meet you."
Translation:Trevligt att träffas.
Is it a standard (formal?) Swedish greeting when you are introduced to someone?
Yes, it is a phrase you can use towards anyone from your neighbours or your sister's new date, to a potential employer and probably also the king.
is it just me or would this sentence translate literally to nice to meet?
Sort of, but the s in träffas implies 'meeting one another'.
If you meet someone, you'd say e.g. det är trevligt att träffa dig 'it is nice to meet you'
Yes, but it's not a translation of this sentence. Furthermore, "trevligt att träffas" is a very idiomatic way of phrasing it.
But "kul att träffas" is not strange or uncommon to say. :)