Digital assets operations platform Utila has successfully raised $18 million to capitalize on the growing popularity of stablecoins.
The Series A funding round was spearheaded by Nyca Partners, with contributions from Wing VC, NFX, Haymaker Ventures, Gaingels, and Cerca Partners.
As stablecoin transactions increasingly outpace traditional payment networks, organizations are turning to Utila’s enterprise-grade digital asset operations platform for seamless value transfers.
Over the past 18 months, Utila has facilitated $35 billion in digital asset transactions and has established partnerships with hundreds of global clients.
The newly acquired funding will be utilized to expand global operations in response to the demand for its institutional multi-party computation (MPC) wallets, as well as to enhance research and development efforts.
“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,” stated Bentzi Rabi, CEO of Utila.