Utexo Secures $7.5M Seed Funding Led by Tether
Analysis based on 7 articles · First reported Mar 06, 2026 · Last updated Mar 16, 2026
The successful seed funding round for Utexo, led by Tether Holdings, is expected to positively impact the cryptocurrency and financial services markets. It strengthens the utility of Bitcoin as a settlement layer for stablecoins like Tether, potentially increasing adoption and efficiency in digital transactions.
Utexo, a blockchain infrastructure startup founded in the United Arab Emirates, has successfully closed a $7.5 million seed funding round. The round was led by Tether Holdings and saw participation from several notable investors including Franklin Templeton Investments, Maven11 Capital, Fulgur Ventures, Portal Ventures, and Big Brain Holdings. Utexo's mission is to build Tether payment rails directly on the Bitcoin network, leveraging Lightning Network and RGB protocols to enable native stablecoin settlement at scale. This infrastructure aims to process Tether transactions in under one second with fixed fees, prioritizing private execution. Co-founders Chris Hutchinson and Viktor Ihnatiuk highlighted the solution's potential for exchanges, digital wallets, and payment service providers, allowing for free Tether transactions. Paolo Ardoino, CEO of Tether Holdings, emphasized Utexo's role in providing production-ready infrastructure to strengthen Bitcoin's position as a global settlement rail for dollar-denominated transactions. The capital raised will be used to expand Utexo's infrastructure and accelerate its adoption among financial institutions globally.
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