Utila Raises $18 Million Series A Round Led by Nyca Partners to Expand Its Institutional-Grade Digital Asset Platform

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.

Utila, a leading institutional-grade platform for digital asset operations, today announced a $18 million Series A funding round led by Nyca Partners.

The funding will help Utila scale global operations to meet the massive demand for its institutional MPC wallets and expand R&D efforts.

The company, which came out of stealth in March, has now raised $30 million.

The Series A round also saw participation from seed investors Wing VC and NFX, and funds including Haymaker Ventures, Gaingels and Cerca Partners.

"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," said Hans Morris, Managing Partner at Nyca. "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."

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, such as Stripe’s recent $1.1 billion acquisition of stablecoin platform Bridge.

These changes highlight the increasing adoption of blockchain-based transactions by institutions, bringing with it the 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.

Its key capabilities include:

* Enterprise-grade, secure MPC wallets – Created by cryptography and cybersecurity experts, providing wallets backed by military-grade security and protecting from key mismanagement, insider and outsider threats

* User and transaction management – Helping organizations to assign roles and set different approval flows/quorums based on multiple parameters

* APIs to build custom applications on top of the secure multi-chain wallet infrastructure

* Agnostic to blockchains and fast asset support for new blockchains and standards

* Wide set of integrations to AML, banking, liquidity providers, exchanges, DeFi, staking and disaster and recovery solutions

* Tokenization engine for token issuers to manage minting and burning operations

* Business continuity offering – Offering mirroring features for institutions that already have a solution in place

* Comprehensive insurance coverage – Providing an added layer of protection to safeguard against security threats, operational risks and asset loss

"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," said Bentzi Rabi, Co-founder and CEO of Utila. "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."

"Organizations like ours that are managing digital asset investments need the operational ability to engage across multiple blockchains in a secure and scalable way," said Wesley Hansen, Head of Trading & Operations at Arca, one of the many customers of Utila. "Utila has added a new dynamic to how we manage our digital asset operations, striking a balance between security, efficiency and ease of use."