Dakota, a stablecoin bank founded by former Coinbase executive, completed $12.5 million in Series A financing, led by CoinFund

PANews reported on July 15 that according to Fortune Magazine, Dakota, a stablecoin bank founded by former Coinbase executive Ryan Bozarth, completed a US$12.5 million Series A financing, led by CoinFund, with 6th Man Ventures, Digital Currency Group and Kraken's Triton Ventures.

Dakota transfers funds through stablecoins and provides bank account services to enterprises and individuals. Its business model combines traditional banking functions and blockchain technology, mainly serving overseas corporate users in the non-crypto field. The platform has processed US$1.6 billion in transaction volume and is expected to reach US$4 billion by the end of 2025. Although it does not hold a bank license, the company has registered as a currency service businessman in the United States and Europe.

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