Digital assets operations platform Utila has closed a $22 million Series A extension round, tripling its valuation in just six months as the stablecoin boom continues.
The extension, led by Red Dot Capital Partners with participation from Nyca, Wing VC, DCG, Cerca Partners, FunFair Ventures and SilverCircle, comes months after an $18m Series A in March, bringing the total round to $40 million.
As stablecoin transfers surpass payment networks, organisations are turning to Utila’s enterprise-grade digital assets operations platform to move value seamlessly.
Since its Series A announcement in March, the startup has seen huge growth driven by mainstream adoption of stablecoins across financial services and more than doubled its customer base. The company now processes over $15 billion in monthly volume and has secured more than $90 billion in total transactions.
Bentzi Rabi, CEO, Utila, says: "We're witnessing a fundamental shift in how organizations handle value transfer, with stablecoins at the center of this transformation.
"Six months ago, we positioned ourselves for the next wave of digital asset adoption. Today, that wave has arrived, and Utila has become the essential infrastructure layer for any organization working with stablecoins - from global payment providers to stablecoin issuers to financial institutions building next-generation treasury and trading operations."