Digital asset platform Utila has raised $18m in a Series A financing round, led by Nyca Partners, to support its institutional digital asset operations.
Other participants in the financing round include seed investors NFX and Wing VC, along with Haymaker Ventures, Cerca Partners, and Gaingels.
Utila aims to use the financing to support the expansion of its global operations and research and development efforts to meet the growing demand for its institutional MPC wallets.
Nyca managing partner Hans Morris said: “Stablecoins have had a dramatic and global impact on the financial landscape, particularly in payments.
“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.
“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.”
With offices in Berlin, London, New York, Singapore, and Tel Aviv, Utila plans to expand further to serve its global clientele.
The company also offers comprehensive insurance coverage to protect against security threats and operational risks, ensuring business continuity for its clients.
Utila has raised a total of $30m since emerging from stealth in March 2024 and facilitated $35bn in digital asset transactions in the last 18 months.
The company’s platform caters to a wide range of financial institutions and payment companies, including neobanks, OTC desks, and institutional investors.
Its key features include enterprise-grade MPC wallets, robust APIs, and a tokenisation engine for managing minting and burning operations.
Utila co-founder and CEO Bentzi Rabi said: “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. Organisations 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.”
