Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Institutional crypto wallet platform Utila raises $18 million Series A amid 'tectonic payments shift' to stablecoins

Institutional crypto wallet platform Utila raises $18 million Series A amid 'tectonic payments shift' to stablecoins

The BlockThe Block2025/03/18 16:00
By:By Yogita Khatri

Quick Take Utila has raised $18 million in a Series A funding round led by Nyca Partners. The firm provides digital asset infrastructure for institutions, focusing on stablecoin payments and tokenization.

Institutional crypto wallet platform Utila raises $18 million Series A amid 'tectonic payments shift' to stablecoins image 0

Utila, an institutional crypto wallet platform, has raised $18 million in a Series A funding round as demand for stablecoin payments, tokenization and treasury management grow.

Nyca Partners led the round, with participation from Wing VC, NFX, Haymaker Ventures, Gaingels and Cerca Partners, Utila said Wednesday. The firm started raising money for the Series A round last October and closed it the following month, co-founder and CEO Bentzi Rabi told The Block. The round was structured as equity, Rabi said, but he declined to disclose post-round valuation.

The Series A round brings Utila's total capital raised to $29.5 million, following an $11.5 million seed round announced last year.

A 'tectonic payments shift' to stablecoins

Utila said a "tectonic payments shift" is underway, with stablecoin transfers reaching $27.6 trillion in 2024 — surpassing the combined transaction volume of Visa and Mastercard. This shift is driving demand for institutional-grade crypto wallets, according to Utila.

"Organizations don't have many options today," Rabi said. "They're mostly stuck between 'old-generation' institutional wallets that are inflexible and lack relevant product offerings, or 'simple' wallets that are not institutional-grade."

He added that Utila's platform provides infrastructure for onchain operations, including multiparty computation (MPC)-based key management, treasury management, trading operations, payments and tokenization.

Utila reports processing over $8 billion in transactions monthly and expects to surpass $1 billion in daily volume by the end of the year. It claims to have more than 100 institutional clients globally.

Competitive landscape

Utila competes with Fireblocks, Anchorage and Copper but positions itself differently. While other platforms were built primarily for trading firms that focus on centralized exchange connectivity and liquidity access, Utila says its focus is on onchain interactions — stablecoin payments, real-world asset tokenization, and smart contract interactions — as the industry shifts from speculative trading to operational use cases.

Utila has offices in New York, Tel Aviv, London, Berlin, and Singapore, with more locations planned. Rabi said the firm currently has around 30 employees and expects to hire 15 more this year across sales, marketing and product.

The Funding newsletter: Stay updated on the latest crypto funding news and trends with my free bimonthly newsletter, The Funding. Sign up  here !


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Institutional Demand Spurs BTC Rally, Bitcoin ETF Inflows Peak at $442M with IBIT Leading the Charge

IBIT Emerges as Key Player in the Bitcoin ETF Space, Could Soon Challenge Wall Street's Largest Counterparts

Coineagle2025/04/27 01:22
Institutional Demand Spurs BTC Rally, Bitcoin ETF Inflows Peak at $442M with IBIT Leading the Charge

Cardano Empowers Users with XRP Transactions via Lace Wallet

In Brief Cardano users can now perform XRP transactions through Lace Wallet. The Midnight Network is introducing new airdrop opportunities for XRP holders. Market reactions indicate cautious optimism for Cardano and XRP prices.

Cointurk2025/04/27 00:00
Cardano Empowers Users with XRP Transactions via Lace Wallet

Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now

Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.

Cryptopolitan2025/04/26 21:12