UAE-based blockchain infrastructure startup Utexo has completed a $7.5 million seed round led by Tether, with participation from Big Brain Holdings, Portal Ventures, Franklin Templeton, Maven11 Capital, and Fulgur Ventures. The funds will support development of its platform for direct stablecoin payments on the Bitcoin network, with a focus on USDT transactions. The platform leverages layer-2 protocols such as Lightning and RGB, aiming to achieve sub-second transaction settlement, reduce costs, and enhance privacy protection for institutional clients.

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