Utexo Secures $7.5 Million in Seed Funding to Enhance Blockchain Payment Infrastructure

Blockchain payment infrastructure company Utexo has announced the completion of a $7.5 million seed funding round. According to ChainCatcher, the round was co-led by Tether, Big Brain Holdings, and Portal Ventures, with participation from over ten other institutions, including Franklin Templeton, Maven11 Capital, and Flow Traders. Utexo aims to provide payment operators with a single API integration by combining Bitcoin, the Lightning Network, and the RGB protocol. This integration facilitates instant USDT settlement on the native Bitcoin network, offering fixed and predictable transaction fees, settlement times of less than one second, and fully encrypted private execution. This development marks the return of USDT to the Bitcoin network after more than a decade and is expected to position Bitcoin as a central settlement channel for global dollar payments.