Viktor, who has been involved in important projects in the cryptocurrency industry since 2015, is known as an entrepreneur who previously implemented Ukraine’s first peer-to-peer credit platform and the region’s first fintech conference. Founding Boosty Labs, Viktor managed approximately 150 people in this team that provided software development services to Coinbase, Bitfinex, Ledger, MetaMask and WalletConnect. This structure, which evolved into an enterprise studio over time, laid the foundations of a new collaboration after the meeting with the Tether team in Prague in 2023. During this collaboration process, UTEXO emerged, which completed its first investment round of $ 7.5 million under the leadership of Tether, Big Brain Holdings and Plan B Ventures.
UTEXO’s Core Technology and Goals
The basis of the new platform developed by UTEXO is to offer instant and zero commission payment for USDT and Bitcoin transactions. The company uses the RGB protocol to increase privacy and thus ensures that transaction verification is done entirely on the user side. According to Viktor, this innovation does not mean the integration of USDT into the Bitcoin network for the first time. As is known, USDT was launched on OmniLayer in 2014; However, UTEXO states that USDT returned to the Bitcoin ecosystem after this infrastructure was redesigned and the technological basis necessary for its operation was provided.
New Era in USDT Transfers on Bitcoin
Thanks to the Lightning Network, UTEXO highlights the scalability and speed advantage in Bitcoin transactions. Among the main usage areas of the platform, it is aimed to enable direct Bitcoin-USDT conversions, enable wallet providers to generate income from fees, and enable transactions such as high-frequency arbitrage between exchanges. Thanks to the high transaction capacity of the Lightning Network, it is expected to prevent different blockchain solutions.
Stablecoin Expansion and Positioning of UTEXO
Viktor states that the real growth potential of stablecoin usage lies not in the returns of decentralized finance, but in becoming a part of daily life in emerging markets. UTEXO aims to provide the necessary infrastructure in countries where USDT is used in many areas, from savings to money transfers abroad and daily payments. The company aligns closely with Tether’s distribution strategy while working with partners like WalletConnect.
Viktor explains that he played an important role in bringing the RGB protocol to the mainnet. With this solution, users can both achieve privacy protection and complete transactions quickly.
UTEXO’s vision; Enabling payments, trade and blockchain-based asset transfers to occur in a more efficient, cost-effective and privacy-sensitive manner.
The partnership and new investments create a financial and strategic basis for UTEXO to offer new products and large-scale solutions in the coming period. The repositioning of USDT on the Bitcoin network has the potential to increase the use of stablecoins in the market by both individuals and institutions.
UTEXO continues its goal of making stablecoin-based payments more accessible in the Bitcoin ecosystem, with its collaborations in the sector and its technological infrastructure.
