UAE-based blockchain startup Utexo has raised $7.5 million in a seed funding round. The round was led by Tether, with support from investors like Big Brain Holdings, Portal Ventures, Franklin Templeton, Maven11 Capital, and Fulgur Ventures.
The company will use this funding to grow its technology and make it easier to process stablecoin payments directly on the Bitcoin network, especially for USDT transactions.
Utexo builds tools and software that connect stablecoins with existing cryptocurrency systems. Its goal is to make digital payments smoother and more efficient.
The platform allows digital wallets, crypto exchanges, and payment companies to handle stablecoin payments easily. It works without requiring major changes to their current systems, compliance processes, or security setups.
Utexo’s technology uses advanced tools like layer-2 solutions such as Lightning and RGB to make transactions on the Bitcoin network faster and smoother. These technologies help reduce delays, lower costs, and improve privacy, allowing stablecoin payments to be completed in less than one second.
The platform also focuses on security and privacy by offering strong data protection and identity safety. This ensures that businesses and financial institutions can safely handle large international transactions without exposing sensitive information.
Utexo follows a simple flat-fee pricing model that can be paid in USDT. This helps companies avoid issues caused by changing network fees and keeps their transaction costs more predictable.
With the new funding, Utexo plans to further improve its payment system and expand beyond the UAE, aiming to support the global growth of stablecoin payments.
As stablecoins become more important in digital finance, Utexo aims to become a leading provider of the technology that helps financial institutions around the world make fast, secure, and scalable crypto payments.
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