- UAE-based blockchain infrastructure startup Utexo has raised $7.5 million in a seed funding round led by Tether, with participation from Big Brain Holdings, Portal Ventures, Franklin Templeton, Maven11 Capital, and Fulgur Ventures.
- Founded in 2025 by Chris Hutchinson and Viktor Ihnatiuk, the company develops enterprise-grade software infrastructure that enables financial institutions, digital wallets, and exchanges to process USDT stablecoin payments directly on the Bitcoin network.
- The funding will support the expansion of Utexo’s technology, which leverages layer-2 protocols such as Lightning and RGB to enable faster, private, and low-cost stablecoin transactions for global payment providers.
Press release:
UAE-based blockchain infrastructure startup Utexo has successfully closed a $7.5 million seed funding round led by Tether, with participation from Big Brain Holdings, Portal Ventures, Franklin Templeton, Maven11 Capital, and Fulgur Ventures.
The investment aims to accelerate Utexo’s mission of enabling direct stablecoin payment processing across the Bitcoin network, particularly for USDT transactions, while simplifying integration for financial institutions and payment providers.
Founded in the UAE, Utexo develops enterprise-grade APIs and software infrastructure designed to bridge the gap between stablecoins and existing cryptocurrency frameworks. Its platform enables digital wallets, cryptocurrency exchanges, and global payment companies to process stablecoin payments seamlessly without overhauling existing internal systems, compliance procedures, or custody frameworks.
A key component of Utexo’s technology is its integration of layer-2 protocols such as Lightning and RGB, which significantly reduce transaction friction on the Bitcoin network. These technologies allow the company to deliver faster settlement speeds, lower transaction costs, and enhanced user privacy, enabling stablecoin payments to be processed in less than one second.
The platform also provides secure data and ways to protect identities, making sure that institutional clients can keep their privacy when dealing with international payments and large financial transactions.
Utexo uses a simple flat-fee pricing system that can be paid in USDT, which helps institutions avoid problems caused by changing network prices and keeps their transaction costs
With the new capital, Utexo plans to further develop its payment infrastructure and expand its services beyond the UAE, supporting the broader adoption of stablecoins within global financial networks.
As stablecoins are becoming more important in digital finance, Utexo wants to be a major provider of the systems that allow financial institutions around the world to make quick, safe, and scalable crypto payments.