Bima (Wealth Management, Asset Management, Trading)
Industry
Wealth Management, Asset Management, Trading
Focus
Bitcoin CDP & Strategy Marketplace, Bitcoin DeFi
Products Used
Siddarth Sridhar
Founder, BIMA
Key outcome Bima gained using Utila
Securing Bitcoin DeFi Operations with Institutional-Grade MPC Wallet Platform
BIMA leverages Utila's MPC-based institutional wallet platform to securely deploy smart contracts and manage digital assets for their Bitcoin-backed stablecoin protocol, eliminating counterparty risks while maintaining operational security
About Bima
Bitcoin CDP Protocol & Strategy Marketplace.
BIMA is a Bitcoin CDP (Collateralized Debt Position) protocol that enables both retail and institutional clients to borrow stable dollars against their Bitcoin holdings while earning yield. Based in New York, BIMA operates a strategy marketplace that allows users to leverage their Bitcoin in various forms to access liquidity and generate returns.
The platform focuses on Bitcoin DeFi utilities, providing institutional-grade infrastructure for users to safely interact with decentralized finance protocols while maintaining full control of their underlying Bitcoin assets. Their mainnet alpha is live, and they’re pioneering Bitcoin DeFi through the USBD stablecoin and a growing ecosystem of liquid staking tokens.
The challenge Bima was facing
Security Gaps and Operational Vulnerabilities
Before implementing Utila, BIMA faced some security and operational challenges as they prepared to scale their institutional operations:
Security Vulnerabilities:
As a Bitcoin lending protocol handling real money contracts, security was the paramount concern. BIMA needed a secure environment to deposit assets and deploy smart contracts without compromising fund safety.
Counterparty Risk Management:
The team required a solution to mitigate counterparty risks among team members, ensuring that the security of user funds or protocol operations wouldn’t depend on individual team members.
Engineering Succession Planning:
BIMA needed a robust system that would maintain operational continuity even when engineers joined or left the team, preventing disruptions to fund security and development workflows.
Operational Complexity:
The team sought a unified solution that could handle the complexities of institutional DeFi operations while providing clear oversight and control mechanisms for contract deployment and asset management.
The solution we delivered for Bima
Institutional Wallet Infrastructure for Unified Operations
BIMA selected Utila as their first provider for institutional-grade digital asset operations , implementing a comprehensive MPC-based solution:
Multi-Party Computation Security:
Utila's MPC infrastructure provides BIMA with institutional-grade security for asset deposits and smart contract deployment, ensuring that funds remain secure even with multiple team members involved in operations.
Unified Operations Management:
Utila's platform enables BIMA to manage accounting, engineering, and operations from a single interface, streamlining their workflow and reducing operational complexity.
Advanced Multisig Capabilities:
Utila's multi-signature and quorum functionality serves as a cornerstone feature for BIMA's operational needs, providing granular control over transaction approvals and fund movements.
Mobile Transaction Management:
The mobile app integration allows real-time notifications and transaction approvals, enabling BIMA's team to maintain operational oversight regardless of location.
DeFi-Focused Infrastructure:
Utila's DeFi-focused wallet and tracking capabilities support BIMA's institutional focus on decentralized finance utilities, providing visibility and permission controls essential for institutional operations.
High impact results Bima experienced
Enhanced Security Posture and Operational Excellence
Since implementing Utila, BIMA has achieved significant improvements in their operational security necessary for their Bitcoin DeFi operations:
Enhanced Security Posture:
Utila’s MPC infrastructure has eliminated single points of failure in BIMA’s operations, providing the institutional-grade security required for handling real money contracts and user funds.
Operational Efficiency:
The unified platform has streamlined BIMA’s complex operations, allowing seamless management of accounting, engineering, and day-to-day operations from one secure environment.
Institutional-Grade Controls:
Utila’s policy engines enable BIMA to implement sophisticated permission controls across different user types, providing the visibility and access management that institutional clients demand.
Team Flexibility:
The succession planning capabilities ensure operational continuity regardless of team changes, protecting fund security and maintaining development workflows during personnel transitions.
Real-Time Oversight:
Mobile notifications and approval capabilities provide BIMA’s leadership with immediate visibility into contract deployments and fund movements, enhancing operational security and response times.
BIMA now operates with confidence knowing their Bitcoin DeFi operations are secured by institutional grade infrastructure that scales with their growth and regulatory requirements.
Customer Stories
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Companies who trust our enterprise-grade governance, security, and operational control: