Ready to take control of your crypto strategy?
Utila’s platform is built by cyber and cryptography experts, and security is, and always will be, the bedrock of our ethos.
With this background and the evolving crypto threat landscape, Utila is committed to maintaining the most advanced infrastructure and governance controls to safeguard your crypto.
Utila uses Multi Party Computation to eliminate private keys as single points of failure. Utila divides private keys into multiple shares in a manner where the control over the private key is divided between the customer and Utila.
One part of the key is stored securely on Utila’s cloud environment and the other part is stored on the customer’s device, behind biometrics.
Throughout the entire lifecycle of the key, from key generation to signing transactions, the key is never reconstructed in a single place.
Outgoing transfers from your Utila Vault are secured via tight policy controls which can only be defined and managed by a quorum of Admins.
This ensures that only authorized users can initiate, approve and sign transactions and that critical policy and environment actions require approval from multiple administrators.
Utila uses mobile device Biometrics and supports passkeys for Multi Factor Authentication to secure access to key shares on a device. In addition, every key share is uniquely bound to a specific user and device and can not be used on a different device with a malicious actor.
Transactions can be initiated by users via the Console (web) or through API, but signed and published on another approved device (mobile or API). This allows greater flexibility when designing and building the security of the approval workflow of transactions and the access to private key shares.
New devices receive existing MPC key shares in an end-to-end encrypted manner from another device. At the end of the process, each device has its own unique set of key shares.
Utila offers a secure offline backup and recovery process where a customer is able to recover their assets in case of a disaster and lost or damaged devices. During the process only an approved administrator on the customer’s side is able to recover the keys. In addition, customers may choose to use third party backup providers.
Utila’s MPC protocol is executed between Utila and the customer, each holding one share of the distributed key, in a way where both shares remain private and dispersed at all times
Every device has a strong cryptographic identity, must be approved by multiple admins and has its key shares uniquely bound to it
Modern infrastructure and security to support system stability, reliability and maximum uptime