Utila Raises $18 Million in Series A to Power Stablecoin Shift in Crypto Payments
Utila, a platform providing institutional-grade cryptocurrency wallets, has secured $18 million in a Series A funding round as businesses increasingly turn to stablecoins for payments and treasury management. Announced on March 19, 2025, the investment highlights a growing trend in the crypto world toward practical, real-world applications.
The round was led by Nyca Partners, with Wing VC, NFX, Haymaker Ventures, Gaingels, and Cerca Partners also joining in, according to Utila’s statement. The company began fundraising last October and wrapped up the equity-based round in November, co-founder and CEO Bentzi Rabi told The Block. While Rabi didn’t share the company’s post-round valuation, the fresh funds bring Utila’s total capital raised to $29.5 million, building on an $11.5 million seed round from last year.
A “Tectonic Shift” to Stablecoins
Utila points to a major change in how payments are handled globally, calling it a “tectonic payments shift.” Stablecoins—digital currencies pegged to stable assets like the U.S. dollar—processed a staggering $27.6 trillion in transfers in 2024, outpacing the combined transaction volumes of Visa and Mastercard. This surge is fueling demand for secure, flexible crypto wallets tailored to institutions.
“Organizations today face a gap in options,” Rabi explained. “They’re caught between outdated institutional wallets that lack modern features and basic wallets that don’t meet enterprise needs.” Utila aims to bridge that gap with a platform designed for “onchain” operations—transactions and activities that happen directly on blockchain networks. Its tools include advanced key management using multiparty computation (MPC), treasury management, trading support, and solutions for payments and tokenization, the process of converting real-world assets into digital tokens.
Powering Billions in Transactions
Utila already processes over $8 billion in monthly transactions and anticipates hitting $1 billion daily by year-end. The company serves more than 100 institutional clients worldwide, from financial firms to businesses adopting blockchain technology. Unlike competitors like Fireblocks, Anchorage, and Copper—originally built for trading firms focused on centralized exchanges—Utila emphasizes onchain interactions, such as stablecoin payments and smart contract use, reflecting the industry’s shift from trading speculation to operational efficiency.
Global Growth on the Horizon
With offices in New York, Tel Aviv, London, Berlin, and Singapore, Utila is poised for expansion. The company employs about 30 people and plans to add 15 more this year across sales, marketing, and product teams. Rabi said new locations are also in the works as Utila scales to meet rising demand.
As stablecoins reshape global payments, Utila’s latest funding positions it to lead the charge in providing institutions with the tools they need to navigate this evolving landscape. For more crypto funding updates, check out The Funding, a free bimonthly newsletter—sign up today!