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Crypto Wallet Provider Utila Raises $18M as Institutional Demand for Digital Asset Management Soars
The crypto infrastructure provider has processed $8 billion in transactions in a month, CEO Bentzi Rabi told CoinDesk in an interview.
Updated Mar 19, 2025, 3:03 p.m. Published Mar 19, 2025, 12:00 p.m.
What to know:
- Utila, a digital asset operations platform, raised $18 million in a Series A funding round to expand its multi-party computation (MPC) wallet service due to increasing institutional demand for managing digital assets and stablecoins.
- The company's platform has experienced a fresh wave of demand for digital asset infrastructure, as payment providers, fintech firms and neobanks increasingly use digital assets, including stablecoins and tokenized assets, in their operations, CEO Bentzi Rabi said.
- The funding will be used to expand globally and enhance its product offerings, including advanced gas management, API integrations, and smart contract support.
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