For episode 688 of the BlockHash Podcast, host Brandon Zemp is joined by Viktor Ihnatiuk, Co-Founder and CEO of Utexo, a Bitcoin-native stablecoin settlement network backed by Tether. Utexo enables private, compliant USDT payments with fixed costs, powered by the Lightning Network and RGB.Viktor is a Bitcoin and Web3 engineer with over 12 years of experience building core infrastructure, protocol tooling, and privacy-preserving distributed systems. A serial entrepreneur, he has founded and scaled multiple successful ventures across the crypto industry. Previously, Viktor scaled Boosty Labs into the leading European Web3 development house, growing the team to 150+ engineers and partnering with major industry players including Coinbase, Ledger, Consensys, MoonPay, and Blockchain.com. Earlier in his career, he joined Storj Labs to help build decentralized cloud infrastructure, where he led the Growth team. He was responsible for expanding the distributed node network and shipping operator-facing tools that improved usability and long-term sustainability. Following this period of growth and infrastructure maturation, Storj achieved a successful exit after its acquisition. In parallel with these ventures, Viktor co-founded Astroid to support early BTCFi teams, helped launch the RGB Association, and contributed to Thunderstack—the primary infrastructure provider for RGB—built in collaboration with Tether and Fulgur. Across his work, Viktor focuses on expanding Bitcoin’s utility and driving real-world adoption through scalable, privacy-first financial applications. 📣 This episode is brought to you by Sumsub. Sumsub is a leading full-cycle verification platform purpose-built for the crypto industry, chosen by 8 out of 10 of the biggest global exchanges. It helps VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally. From instant KYC and KYB to automated crypto transaction monitoring, as well as full Travel Rule compliance. With over 1,800+ VASPs in their Travel Rule ecosystem, their no-code platform adapts to evolving threats, market demands, and global regulations. Trusted by over 4,000 clients in fintech and crypto, Sumsub combines blockchain intelligence, identity verification, and behavioral fraud detection in a single orchestration layer. This allows you to screen, score, and monitor at every step of the customer journey without adding friction for trusted users. You can learn more about Sumsub at https://sumsub.com Check out Sumsub’s YouTube channel here: https://bit.ly/SubscribeToSumsub ⏳ Timestamps: (0:00) Sumsub (0:44) Introduction (2:26) Who is Viktor Ihnatiuk? (12:26) Pairing of RGB & Lightning (17:30) Yield APY with Utexo (19:56) Zero transaction fees on USDT (20:41) Sumsub (21:30) Future stablecoin integrations (25:18) Future of stablecoin market (32:12) API & SDK for devs (36:55) Utexo roadmap 🎙 Utexo Links: 🔗 Website: https://utexo.com/ 🔗 X: https://x.com/utexocom 🔗 Discord: https://discord.com/invite/utexo 📢 Disclaimer: None of our content constitutes, nor is intended to act as financial advice. It’s important to always do your own research and due diligence before making any investment decision. Digital Assets and Cryptocurrencies are highly volatile and carry a considerable amount of risk.
