Utexo Raises $7.5M in Seed Funding Led by Crypto Platform Tether
The blockchain startup is developing infrastructure allowing institutions to process USDT payments on the Bitcoin network.
UAE-based blockchain infrastructure startup Utexo has raised $7.5 million in a seed funding round led by Tether to expand its payment infrastructure supporting stablecoin transactions on the Bitcoin network.
Additional investors in the round included 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 application programming interfaces and infrastructure designed to integrate stablecoin payment capabilities into existing systems used by financial institutions, digital wallets and cryptocurrency exchanges.
The platform enables institutions to process Tether (USDT) payments directly on the Bitcoin network without requiring major changes to internal processes or custody frameworks.
Its infrastructure incorporates layer-two protocols such as Lightning Network and RGB protocol to reduce transaction friction and enable faster settlement, lower costs and enhanced transaction privacy. According to the company, stablecoin payments processed through the system can be completed in less than one second.
The platform also includes security and identity-protection features designed for institutional users managing cross-border payments and high-value transactions. A flat-fee pricing model payable in USDT is intended to reduce exposure to fluctuations in blockchain network transaction fees.
The new funding will support further development of the company’s payment infrastructure and expansion of services beyond the UAE as demand for stablecoin-based payment systems continues to grow across global financial networks.
