Stablecoin bank Dakota, founded by a former Coinbase executive, completes a $12.50 million Series A funding round led by CoinFund
Powered by ChatGPTAccording to Fortune magazine, Dakota, a stablecoin bank founded by former Coinbase executive Ryan Bozarth, has completed a $12.50 million Series A funding round led by CoinFund, with participation from 6th Man Ventures, Digital Currency Group, and Kraken's Triton Ventures. Dakota facilitates fund transfers through stablecoins, providing bank-like account services to businesses and individuals. Its business model combines traditional banking functions with blockchain technology, primarily serving overseas corporate users in non-crypto fields. The platform has currently processed $1.60 billion in transaction volume and is projected to reach $4.00 billion by the end of 2025. Although it does not hold a banking license, the company is registered as a money service business in the United States and Europe. [ChainCatcher]