Tether co-leads $7.5M round for startup enabling USDT payments on Bitcoin

Tether has co-led a $7.5 million investment round in Utexo, a startup that supports USDT payments on the Bitcoin network. The round saw participation from Big Brain Holdings, Portal Ventures, and Franklin Templeton. Tether explained that while Bitcoin is central to the long-term vision for USDT, it requires infrastructure that was previously unavailable. The company added that Utexo was established to build these solutions and facilitate Bitcoin-based stablecoin payments. Transactions will leverage the security of the Bitcoin network, with settlement fees paid in USDT.