PANews reported on March 19 that according to CoinDesk, digital asset platform Utila raised $18 million in Series A funding, which will be used to expand its multi-party computing (MPC) wallet service to meet the growing demand for institutional digital asset management. Nyca Partners led the round, with other investors including Wing VC, NFX, Haymaker Ventures, Gaingels and Cerca Partners. The latest round of financing brings the startup's total venture capital to approximately $30 million since it emerged last year.
Utila CEO Bentzi Rabi said that payment providers, fintech companies and emerging banks are increasingly using digital assets including stablecoins and tokenized assets. The Utila platform has processed $8 billion in digital asset transactions per month, a significant increase from $3 billion at the beginning of 2024. The financing will help Utila expand its global market and enhance product features, including advanced Gas management, API integration and smart contract support.
