Tether (CRYPTO: USDT) co-led a $7.5 million seed round in Utexo to enable native USDT settlement on Bitcoin (CRYPTO: BTC) and Lightning Network as CEO Paolo Ardoino said “Bitcoin has always been central to Tether’s long-term vision for USDT.”
The $7.5M Utexo Investment
Tether co-led the round with Big Brain Holdings and Portal Ventures. Franklin Templeton, Maven11 Capital, Fulgur Ventures. Other investors also participated.
USDT has a supply of $184 billion, making it the world’s most popular dollar-pegged stablecoin.
Utexo’s technology allows USDT transactions to be settled directly on the Bitcoin network, including the first-ever availability of USDT …