Stablecoin-powered financial institution Dakota completes $12.50 million Series A funding round, led by CoinFund

Dakota, a stablecoin-powered financial institution co-founded by former Coinbase executives, announced the completion of a $12.50 million Series A funding round led by CoinFund, with participation from 6th Man Ventures, Digital Currency Group, and Triton Ventures. Dakota uses stablecoins to transfer funds between itself and its clients. This investment is also the latest bet by venture capital firms on the popular stablecoin sector in the recent cryptocurrency market. (Fortune) [Odaily Planet Daily News]