Utila Debuts Institutional Crypto Operations Platform with $3B in Transactions in 6 Months
$3B in Transactions in 6 Months
Ready to take control of your crypto strategy?
Case Studies
Kuutamo is a leading blockchain technology and services provider in the bitcoin era. Kuutamo provides a range of web services and liquidity services to startups and institutions and helps their clients operate their own nodes on Lightning Network ultimately enabling new innovative use cases of bitcoin.
Treasury Management
Blockchain Node Services
Copenhagen, Denmark
CFO
kuutamo.cloud
Head of Finance and Operations
Switching to Utila’s crypto treasury management platform enables us to revamp and simplify our treasury operations and signing process. Our old mix-and-match solution with hardware and online wallets didn’t allow multi-signer transaction workflows, which was not acceptable as we scaled. With Utila’s MPC wallets and mobile app-based signing, we now have the ideal multi-user signing flows that allow us to manage our treasury both nimbly and with solid governance.
About Kuutamo
kuutamo aims to help provide easy access to participate in Web3 economies, without having to give up control of your data to managed services.
The ability to connect to blockchain nodes to participate in governance and staking activities is at the heart of this. kuutamo’s open, turn-key, end-to-end solution for running best-in-class self-hosted nodes, anywhere kuutamo’s next generation hybrid-cloud native solution allows web3 companies to maintain control of their data, while leveraging best-in-class scalable node infrastructure for configuration and monitoring. Nodes can be deployed anywhere: any cloud, VM or bare metal and be easily live migrated between different providers, resulting in zero lock in.
The Challenge
When kuutamo launched their business in late 2021, they used a mix and match solution of purely web based and hardware wallets to manage treasury inflows and outflows of USDC from customers.
When Laurence Lewandowska was hired as head of Finance & Operations in Q1 2023, she noticed risks and inefficiencies with this setup.
It quickly was apparent that you can’t just have 1 or 2 Co-Founders approving and signing transactions. It’s best practice to use a quorum of at least 2, or 2 out of 3 approvers to ensure proper controls and flexibility for treasury operations. With the existing solution where just 1 person holds a signing key, it wasn’t possible to implement these types of rules or quorums.
The Solution
And More:
A single, secure wallet solution where you can easily set up multi-level approval and escalation structures based on custom quorums.
Simple address book approvals and maintenance, then easy to regularly transfer to or from that address from there on out.
A simple web interface with an overview of funds (in custody, incoming and outgoing) for visibility and tracking of asset inflows and outflows.
Easily download transactions onto a CSV file to reconcile or report for accounting or audit purposes.
Automatic and batch payments features kuutamo can easily add for their organization as they scale both their customer and internal payroll bases
Having prior exposure to MPC-based solutions that allow for multiple admins to hold signing keys on their mobile devices and approve from anywhere in the world, she quickly initiated a switch to an MPC-based solution.
Utila was highly recommended as a strong, self-serve MPC wallet infrastructure solution and Kuutamo was very impressed with the solution and services after just a short trial.
Using Utila’s MPC solution gives kuutamo best practices for treasury management and authorizations, while maintaining a simple overview of funds to manage assets and also use to invoice our customers. As we scale, we also look forward to evaluating new features from Utila such as automatic and batch payments to more easily manage higher payment volumes across employees and customers.
Book a Demo
By proceeding, you agree to our Terms of Use and Privacy Policy.