Utila enables organizations to address the fast-growing market with a secure, seamless, institutional-grade platform for digital asset operations. In 18 months, the company has secured $35 billion in digital asset transactions, engaged hundreds of global clients, and surged forward to become a leading institutional-grade platform.
To drive its growth, Utila has secured an $18 million Series A round, led by Nyca Partners and with participation from seed investors Wing VC and NFX and funds such as Haymaker Ventures, Gaingels, and Cerca Partners. Utila will use the financing to scale global operations, meet the massive demand for its institutional MPC wallets, and expand its R&D efforts. Since exiting stealth in March 2024, Utila has raised $30 million.
The growth of stablecoins is rapidly shifting the digital asset industry from speculative trading to operational use cases. In 2024, stablecoin transfers reached $27.6 trillion, surpassing Visa and Mastercard’s combined transaction volume according to a report by CEX.IO. And the payments industry is responding with strategic initiatives, including Stripe’s recent $1.1 billion acquisition of stablecoin platform Bridge.
These changes emphasize the growing institutional adoption of blockchain-based transactions and bring with it the increasing demand for enterprise-grade, secure, and high-speed operational platforms like Utila. And by focusing on the next wave of digital asset adoption and enabling businesses to move value seamlessly, these fast-moving market trends position Utila for rapid growth.
Created for PSPs, stablecoin-based products and issuers, neo banks, OTC desks, institutional investors and others, Utila’s platform supports the complex needs of payment companies and financial institutions engaging in digital asset operations. Key capabilities include:
1.) Enterprise-grade, secure MPC wallets – Created by cryptography and cybersecurity experts, provides wallets backed by military-grade security protecting from key mismanagement, insider and outsider threats
2.) User and transaction management – Helps organizations assign roles and set different approval flows/quorums based on multiple parameters
3.) APIs to build custom applications on top of the secure multi-chain wallet infrastructure
4.) Agnostic to blockchains and fast asset support for new blockchains and standards
5.) Wide set of integrations to AML, banking, liquidity providers, exchanges, DeFi, staking and disaster and recovery solutions
6.) Tokenization engine for token issuers to manage minting and burning operations
7.) Business continuity offering – Offers mirroring features for institutions that already have a solution in place
8.) Comprehensive insurance coverage – Provides an added layer of protection to safeguard against security threats, operational risks and asset loss
KEY QUOTES:
“Stablecoins have had a dramatic and global impact on the financial landscape, particularly in payments. We are impressed with the early insight Utila’s founders had into these market developments and the new institutional-grade tools that would be required as digital assets become mainstream. They also have the expertise to execute on this vision and have quickly gained significant market traction. All these factors make Utila the type of exciting, breakthrough investment opportunity we target.”
– Hans Morris, Managing Partner at Nyca
“Utila’s mission is to be the leading institutional-grade wallet for this new era, which requires an entirely new set of product capabilities such as efficient gas management, scalable APIs, deep support for smart contract interactions and connectivity to banking rails. Organizations don’t have many options today. 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. We provide the ultimate platform for on-chain operations with the highest security standards in the market.”
– Bentzi Rabi, Co-founder and CEO of Utila
“Organizations like ours that are managing digital asset investments need the operational ability to engage across multiple blockchains in a secure and scalable way. Utila has added a new dynamic to how we manage our digital asset operations, striking a balance between security, efficiency and ease of use.”
– Wesley Hansen, Head of Trading & Operations at Arca, one of the many customers of Utila
