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Utila Raises $22M For Expanding Stablecoin Adoption
Utila Raises $22M For Exanding Stablecoin Adoption. Photo By Alex On Unsplash.
Utila has successfully raised $22M in a funding round led by Red Dot Capital Partners, according to CoinDesk. Other participants included Nyca, Wing VC, DCG, Cerca Partners, as well others.
The digital asset platform joins a wave of stablecoin infrastructure, orchestration, and treasury platforms that have received large sums of capital to increase stablecoin adoption for enterprise, institutions, and retail customers worldwide.
Based in Tel-Aviv, Israel, the team focuses on secure crypto custody and management of assets across multiple blockchains, wallets, teams and users in one place.’ Utila has already secured over $60B in transactions with 99.9% uptime, a key record of safety that enabled a host of industry partnerships and service agreements with customers like Vield and M1.
Utila plans to leverage this new funding (taking the total to $40M) to accelerate its expansion throughout Latin America, Africa, and the Asia-Pacific region.
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