Blockchain payment infrastructure firm Utexo has successfully closed a $7.5 million seed funding round, spearheaded by Tether, Big Brain Holdings, and Portal Ventures. The round also saw participation from over ten institutional investors, including Franklin Templeton, Maven11 Capital, and FlowTraders. Utexo offers a unified API that integrates Bitcoin, the Lightning Network, and the RGB protocol, facilitating instant USDT settlements on the Bitcoin network with fixed fees and sub-second settlement times. This development marks USDT's return to the Bitcoin network after more than a decade, potentially positioning Bitcoin as a primary settlement layer for global dollar payments.
Utexo Secures $7.5M Seed Funding Led by Tether and Key Investors
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