Tyr Capital (Institutional Digital Asset Manager)
Industry
Institutional Digital Asset Manager
Focus
Fund Operations & Yield Vault Execution
Products Used
Tyler Wellener
Chief Strategy Officer
Key outcome Tyr Capital gained using Utila
Institutional-Grade Operational Security and DeFi Flexibility for Yield Vault Operations
Tyr Capital adopted Utila to secure its fund operations across multiple strategies and chains - utilizing MPC-secured infrastructure, granular approval workflows, and direct DeFi connectivity that supports institutional fund controls.
About Tyr Capital
Award-Winning Digital Asset Fund Specializing in Arbitrage, Market-Neutral, and Asset-Denominated Yield Strategies
Founded in 2018, Tyr Capital is an alternative asset manager specializing in digital assets, with a particular focus on market-neutral strategies and yield generation. The firm is one of the longest-standing players running Bitcoin-denominated strategies - generating BTC-on-BTC returns regardless of market direction.
Tyr Capital operates multiple fund vehicles. Its Market-Neutral Fund (TCMN) delivers consistent, asset-denominated returns through disciplined arbitrage and relative value strategies. Its Multi-Strategy Fund (TCMF), layers in controlled exposure on top of the core market-neutral offering - adding in directional plays, such as: liquid tokens, venture, and equity strategies - combining a core yield engine with asymmetric upside opportunities. The firm has won multiple awards for fund performance and maintains a track record of strong risk-adjusted returns.
Beyond traditional fund management, Tyr Capital is actively building at the intersection of traditional finance and digital assets - exploring tokenized fund wrappers, new distribution models, and institutional DeFi infrastructure. This strategic direction has shaped how the firm evaluates and uses its operational infrastructure.
The challenge Tyr Capital was facing
Institutional Trading Operations Require Comprehensive Custody Infrastructure
As a multi-strategy fund executing across centralized venues, DeFi protocols, and multiple blockchain networks, Tyr Capital needed operational infrastructure that could keep pace with its trading operations and its compliance requirements without sacrificing institutional controls. The firm evaluated the market and identified several requirements that Utila specifically addressed.
Key Security and Disaster Recovery
Tyr Capital needed confidence that private keys were safe - not stored in a way that left them vulnerable to damage, loss, or single points of failure. Proper disaster recovery was a baseline requirement for a fund managing institutional capital across multiple strategies.
Programmatic Safeguards Against Human Error
Even with the best intentions, a copy-paste error, a front-end attack, or a misclicked link could result in catastrophic loss of funds. The fund needed transaction-level rules enforced programmatically - systemic checks that operate independently of individual judgment and catch errors before they become losses.
Multi-Signature-Like Controls Without Multi-Sig Overhead
With multiple team members involved in trade execution and fund management, Tyr Capital required configurable approval workflows that matched how the team actually operated - without the rigidity and operational friction of traditional multi-signature setups. MPC technology offered this flexibility.
DeFi Flexibility Across Chains and Products
As strategies expanded across chains and protocols, the firm needed maximum flexibility to move to new chains or interact with new DeFi products - without waiting on lengthy integration timelines or being constrained by a custody provider's roadmap.
Speed Without Compromising Security
Many existing systems were onerous - requiring file uploads, complex signing techniques, or cumbersome approval processes. Tyr Capital needed a platform where security and execution speed worked together rather than against each other.
The solution we delivered for Tyr Capital
MPC Security, Configurable Governance, and DeFi Connectivity in One Platform
After evaluating multiple institutional custody and wallet infrastructure providers, Tyr Capital selected Utila for its combination of security depth, policy flexibility, and DeFi-native connectivity.
MPC Key Management with Disaster Recovery
Utila’s MPC infrastructure eliminated the single point of failure inherent in hardware wallets. Keys are distributed across multiple parties, removing reliance on any single physical device and providing built-in disaster recovery - a critical requirement for institutional fund operations.
Granular Policy and Approval Workflows
Utila’s policy engine enables Tyr Capital to configure transaction-level rules that match its internal operating structure. Specific team members - fund managers, signers, administrators - are assigned defined roles, and transactions require the appropriate approvals before execution.
You’re having multiple sets of eyeballs on it, and the system itself is checking to make sure this abides by the rules.
Address Whitelisting and Preset Controls
Every outgoing transaction is validated against pre-configured address whitelists and policy rules, catching errors before they can lead to losses. This programmatic enforcement layer operates independently of any individual’s judgment - providing protection that hardware wallets and basic custody setups cannot replicate.
Speed Without Compromising Security
Utila’s desktop-and-mobile signing flow gives Tyr Capital both security and execution speed. Unlike systems that require complex file uploads or multi-step signing ceremonies, Utila’s interface is designed for institutional operators who need to move fast.
You want security and speed, but you don’t want to compromise either. That’s rare.
Delegate Wallets for Gas Management
Utila’s delegate wallet functionality allows the fund to pay gas fees from a separate wallet, simplifying accounting and keeping managed assets cleanly separated from operational costs - an important distinction for fund administration.
DeFi Connectivity Across Chains
Utila’s platform provides direct connectivity to DeFi protocols and exchanges, with the flexibility to onboard new chains and products as the fund’s strategy evolves. This is particularly valuable for a firm that actively seeks to be early to new opportunities - from new L1s and L2s to emerging DeFi venues.
High impact results Tyr Capital experienced
Operational Confidence and Strategic Flexibility at Institutional Scale
Since implementing Utila, Tyr Capital has consolidated its onchain fund operations onto a platform that matches the requirements of the fund’s policies and trading strategies.
Reduced Key Management Risk
MPC-secured infrastructure removes single points of failure and providing the disaster recovery capabilities required for institutional fund operations.
Enforced Multi-Party Governance
Configurable approval workflows ensure every transaction passes through the appropriate checks - matching the fund’s internal structure without creating operational bottlenecks.
Accelerated Trade Execution
The streamlined signing experience allows the team to maintain execution speed while operating within a fully governed security framework.
Simplified Fund Accounting
Delegate wallets for gas management and clean wallet segregation have reduced accounting complexity, keeping fund assets and operational costs clearly separated.
Expanded Strategic Reach
Direct DeFi connectivity and rapid chain support give Tyr Capital the flexibility to deploy into new strategies, protocols, and chains as opportunities emerge.
Ecosystem Value Beyond Custody
Through Utila Link and the broader Utila network, Tyr Capital has gained access to introductions, integrations, and co-development opportunities - including yield vault infrastructure and counterparty connectivity - that extend well beyond custody functionality.
“There’s a really strong network that Utila is building outside of custody that is hard to duplicate. It’s something that’s hard to scale, and that’s why it’s actually impactful.”
— Tyler Wellener, Chief Strategy Officer, Tyr Capital
Customer Stories
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