Utila

Utila is an institutional-grade platform that provides stablecoin and digital asset infrastructure for fintechs, payment service providers, banks, trading firms, and corporate treasuries, built on multi-party computation wallet technology to eliminate the single-point-of-failure risks of traditional private key custody.

Core Mechanism

At the foundation of Utila is its MPC wallet architecture. Private keys are never held whole by any single party; instead, each key is split into cryptographic shares distributed between the customer's own infrastructure and Utila's servers. Both shares remain private at all times, and neither side can produce a valid signature independently. This model eliminates custodial risk without requiring the operational complexity of hardware security modules, and it scales across the 60+ blockchains the platform supports through a single unified API.

Transaction signing flows through a deployable co-signer component that operators host on their own cloud or virtual machine infrastructure. Before any transaction reaches the network, the co-signer evaluates it against a configurable policy ruleset — spending limits, address whitelists, multi-party approval thresholds, and role-based permissions — enforcing governance rules programmatically rather than relying on manual review. This automation is central to Utila's pitch: the platform is designed to handle high volumes of stablecoin payments at institutional scale without creating a compliance bottleneck.

Key Products and Features

MPC Wallet Infrastructure: Vault-structured workspace where each vault holds multiple wallets grouped by entity or purpose. Each supported blockchain has one address per wallet, with the exception of Bitcoin. Wallet creation, balance queries, address generation, and transaction initiation are all accessible via REST API, with real-time webhooks for deposits, transfers, and governance events.

Policy and Governance Engine: Role-based permissions and approval workflows operate at the vault level, cascading down to individual wallets automatically. Organizations can require sequential approvals from multiple signers, restrict destinations to whitelisted addresses, and set per-transaction or per-period spending caps. This layer is designed to satisfy internal audit and compliance requirements without slowing down payment operations.

Embedded Compliance: AML and KYT (know-your-transaction) screening is integrated into the transaction flow rather than bolted on after the fact. Compliance checks run against integrated providers at the point of initiation, producing audit-ready logs for regulatory reporting.

Unified Operations Dashboard: A cross-chain interface for monitoring balances, reviewing transaction history, managing wallets, and overseeing approval queues. The dashboard supports the same use cases as the API, giving non-technical operators visibility into the same data available to developers.

API-First Architecture: The platform is structured around a REST API that exposes the full feature set — wallet management, transaction initiation, policy enforcement, balance monitoring, and webhooks — so fintechs and enterprises can build stablecoin payment flows directly into their own products.

Supported Assets and Blockchains

Utila supports stablecoins and digital assets across more than 60 blockchains, covering both EVM and non-EVM networks. Solana is natively supported, which means operators running Solana-based products avoid cross-chain bridging overhead entirely. USDC, USDT, and other major stablecoins are the primary assets flowing through the platform. Tron is also supported, with MPC protection and the full policy engine available on-chain.

Solana Ecosystem Fit

Utila's native Solana integration positions it as a custody and compliance layer for projects building payment and settlement infrastructure on the network. A concrete example of this in practice is its work with Agridex, a Solana-based agricultural commodity platform that processes stablecoin-settled trades across 12+ African countries for 20+ commodity types. Agridex adopted Utila's MPC infrastructure specifically because it needed custody security, AML/KYT screening, and treasury dashboards that meet the standards required by institutional trade finance counterparties. Utila CEO Bentzi Rabi has described the core problem as ensuring that institutions can engage with real-world asset platforms that have reached the scale where "custody, compliance, and governance standards that institutional counterparties require" become the primary barrier to growth.

Utila also joined the Open USD standard initiative in August 2026, a cross-industry effort to create interoperability for dollar-denominated digital assets across banks and fintechs — signaling alignment with the institutional stablecoin infrastructure narrative that has been building momentum on Solana.

Security and Compliance

Utila holds SOC 2 Type II certification. Its MPC infrastructure has been independently audited by Halborn, a Web3 security firm. The platform reports 99.9% uptime. The non-custodial key management model means Utila itself cannot unilaterally move customer funds, which removes a class of custodial risk that has historically troubled institutional adopters of digital asset platforms.

Team and Funding

Utila was founded in 2022 by Bentzi Rabi (CEO), Sam Eiderman (CTO), and Gilad Asharov, a cryptographer, with the leadership team bringing backgrounds in cybersecurity, cryptography, and blockchain engineering. In March 2025 the company raised an $18 million Series A led by Nyca Partners, with participation from seed investors Wing VC and NFX, and additional backing from Haymaker Ventures, Gaingels, and Cerca Partners. Total funding exceeds $50 million. Angel investors include the former CTO of Coinbase credited with launching USDC and an executive who built the first FDIC-approved crypto business at Cross River Bank.

As of March 2025 the platform was processing $8 billion in digital asset transactions per month, up from $3 billion in a three-month period earlier in 2024. The company reports $200 billion in cumulative transaction volume handled to date and operates across more than 10 countries.

Competitive Position

Utila positions itself directly against Fireblocks, the dominant enterprise custody and operations platform. Its differentiation is a fully API-native architecture aimed at builders — fintechs that want to embed stablecoin payment rails into their own products rather than operating within a vendor's interface — combined with a pricing model and onboarding experience targeted at companies earlier in their growth curve than Fireblocks typically serves. The partnership network includes more than 30 integration partners across compliance, liquidity, and staking infrastructure.