The blockchain startup is developing infrastructure allowing institutions to process USDT payments on the Bitcoin network.

UAE-based blockchain infrastructure startup Utexo has raised $7.5 million in a seed funding round led by Tether to expand its payment infrastructure supporting stablecoin transactions on the Bitcoin network.

Additional investors in the round included Big Brain Holdings, Portal Ventures, Franklin Templeton, Maven11 Capital and Fulgur Ventures.

Founded in 2025 by Chris Hutchinson and Viktor Ihnatiuk, the company develops enterprise-grade application programming interfaces and infrastructure designed to integrate stablecoin payment capabilities into existing systems used by…