Utila, an Israel-based institutional-grade crypto wallet provider, raised a $11.5 million seed round led by NFX, Wing Venture Capital and Framework Ventures.
Safety concerns and rampant exploits, however, still hinder broader blockchain adoption. Users lost around $2 billion of assets last year in hacks, while the impact of crypto exchange FTX's dramatic collapse still reverberates in the industry.
#crypto-wallet-provider #institutional-participation #security-concerns #blockchain-adoption #seed-funding
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