Mobee (Cryptocurrency Exchanges, OTC Services)
Industry
Cryptocurrency Exchanges, OTC Services
Focus
OTC Balance Sheet Management
Products Used
Geoffrey James
Chief of Product, Mobee
Key outcome Mobee gained using Utila
Strengthening Indonesian OTC Operations with Secure Wallet Infrastructure and Advanced Policy Controls
Mobee transitioned to Utila’s institutional digital asset operations platform to securely manage their OTC operations, replacing prior solutions due to security concerns and operational inefficiencies - while gaining granular approval workflows and faster, tailored feature development.
About Mobee
A Leading Cryptocurrency Exchange in Indonesia
Mobee is a licensed digital asset exchange based in Jakarta, Indonesia. As one of the top five exchanges in the country, Mobee serves both institutional and retail customers. Its institutional focus primarily centers around OTC operations that facilitate clients to off-ramp stablecoins like USDT and USDC to Indonesian Rupiah - processing tens of millions of dollars in monthly OTC volume with market-leading rates and liquidity. Mobee combines intuitive UI/UX with advanced infrastructure to support OTC trading and fiat-crypto conversion at scale.
The challenge Mobee was facing
Security Concerns & Operational Complexity
Before implementing Utila, Mobee had evolved through multiple custody solutions, each presenting significant operational and security challenges:
Manual Operations:
Initially, Mobee relied on hardware wallets, requiring manual key input for every transfer. This approach proved risky due to human error potential, including incorrect amounts and destination addresses, and lacked address whitelisting capabilities that led to operational mistakes.
Security Vulnerabilities:
After moving to another digital asset custody provider, Mobee faced major security concerns when this vendor became involved in the WazirX hack incident. This security breach highlighted the critical importance of choosing a custody provider with robust security infrastructure.
Operational Complexity:
Mobee’s OTC workflows required coordination across multiple roles—signers, viewers, accountants, management—with varying approval requirements based on transaction volume and client type. Without automation, this created manual overhead and slowed execution.
Limited Policy Granularity:
Previous solutions lacked the ability to implement tiered, multi-step approval processes or flexible wallet grouping. Rigid permissions made routine tasks—like updating addresses or reassigning wallets—unnecessarily time-consuming and hard to scale.
The solution we delivered for Mobee
Secure, Scalable OTC Operations
Mobee chose Utila as their ultimate OTC custody solution and fully transitioned to Utila within a week:
OTC Balance Sheet Management:
Utila serves as Mobee's primary custody platform for storing incoming stablecoins from various sources, providing secure infrastructure for their high-volume OTC operations.
Advanced Policy Configuration:
Utila's policy setup enables complex approval workflows with multiple stakeholders and tiered volume-based approval requirements, essential for Mobee's OTC processes.
Wallet Grouping Functionality:
Utila's wallet grouping feature allows Mobee to implement different approval levels for different categories - internal wallets may require fewer approvals, long-term clients receive streamlined processes, while new clients require enhanced verification.
Security-Focused Infrastructure:
Utila's security-first approach and security best practices provided the confidence Mobee needed after the security concerns with their previous custody provider.
Responsive Development:
Utila's team demonstrates quick adaptation to operational needs, providing immediate solutions when possible and clear roadmap communication for future feature development.
High impact results Mobee experienced
Operational Efficiency and Confidence at Scale
Since implementing Utila, Mobee has achieved significant improvements in their OTC operations:
Seamless Implementation:
The migration to Utila was completed within a few days, facilitated by the platform’s intuitive UI/UX design.
Enhanced Operational Control:
The granular policy controls enable Mobee to maintain sophisticated approval processes essential for OTC operations, with proper segregation between different client types and transaction volumes.
Greater trust:
Utila’s security-focused approach has provided Mobee with the confidence to operate their OTC operation without the security concerns that prompted their departure from previous providers.
Operational Agility:
The wallet grouping functionality has enabled more efficient SOP implementation, reducing unnecessary approval steps for trusted relationships while maintaining security for new or high-risk transactions.
Top-notch Support:
Mobee benefits from fast response times and transparent communication from Utila’s support team, with clear timelines provided for both immediate fixes and longer-term feature development.
Customer Stories
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Companies who trust our enterprise-grade governance, security, and operational control: