Utila Secures $22 Million Funding, Triples Valuation Amid Stablecoin Demand
Crypto infrastructure provider Utila raised $22 million in a funding round, increasing its valuation nearly threefold in six months. The latest round, led by Red Dot Capital Partners, brings the total Series A funding to $40 million.
- Utila specializes in a digital asset operations platform for enterprises dealing with stablecoins.
- The platform supports payments, treasury, trading functions, compliance, and continuity for businesses.
- Clients include payment providers, neobanks, and asset managers, indicating a rise in dollar-pegged token usage.
- The stablecoin market is valued at $270 billion and is seen as a disruptive force in cross-border payments.
- Major companies like Walmart and Amazon are exploring stablecoin use.
- Utila has doubled its customer base since March, processing over $15 billion in monthly transactions.
- The firm aims to expand into Latin America, Africa, and Asia-Pacific, where stablecoins are crucial for financial infrastructure.