Crypto Wallet Startup Utila Raises $11.5M to Help Institutions Safely Manage Digital Assets

Institutional crypto wallet provider Utila raised $11.5 million in a seed round led by NFX, Wing Venture Capital, and Framework Ventures
Utila aims to help institutions securely manage digital assets in a non-custodial wallet using multiparty computational tech
The company has onboarded 35 institutions and facilitated $3 billion in crypto transactions in the past 6 months
The fundraising comes amid greater institutional involvement in crypto and a boom in tokenization of real-world assets
Safety issues like hacks and exchange collapses still hinder broader blockchain adoption, which Utila seeks to address