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Utila Raises $22M, Triples in Valuation as Stablecoin Infrastructure Demand Surges
Circle's IPO and Stripe acquiring stablecoin startup Bridge were the "bitcoin ETF moments" for stablecoin adoption, Utila CEO Bentzi Rabi said in an interview.
Sep 3, 2025, 12:00 p.m.
What to know:
- Utila raised $22 million in a funding round led by Red Dot Capital Partners, nearly tripling its valuation in six months, the firm said.
- The company provides a digital asset operations platform for enterprises dealing with stablecoins, serving clients like payment providers and neobanks.
- Utila plans to expand into emerging markets in Latin America, Africa, and Asia-Pacific, as stablecoins become integral to financial infrastructure.
Crypto infrastructure provider Utila raised $22 million in its latest fundraising round nearly tripling its valuation in the last six six months, the firm told CoinDesk.
The round was led by Red Dot Capital Partners with Nyca, Wing VC, DCG and Cerca Partners among investors also participating, extending the March Series A funding round to $40 million.
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Founded in New York and Tel Aviv, Utila provides a digital asset operations platform tailored for enterprises working with stablecoins. The system handles payments, treasury and trading functions, while offering compliance and continuity features for businesses. The firm's customers include payment providers, neobanks and asset managers, reflecting the growing use of dollar-pegged tokens in global finance.
Stablecoins garnered attention this year from outside of crypto circles as the killer application of blockchain technology. The sector, currently a $270 billion market, have the potential to disrupt cross-border payments as a faster, cheaper alternative to traditional financial rails, proponents say. Major banks and global retailers like Walmart, Amazon are reportedly exploring using stablecoins.
Payments firm Stripe acquiring stablecoin startup Bridge and USDC stablecoin issuer Circle's IPO were the "bitcoin ETF moments" for stablecoin adoption, Bentzi Rabi, co-founder and CEO of Utila said in an interview with CoinDesk.
Utila did not actively seek new funding, but received inbound offers as stablecoin demand spiked, Rabi said. Since March, the firm has doubled its customer base and now processes over $15 billion in monthly transactions.
With most of its original Series A capital still unused, Utila opted to extend the round to accelerate its expansion into fast-growing markets such as Latin America, Africa and Asia-Pacific, where stablecoins are increasingly central to financial infrastructure.
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USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
What to know:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
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