Stablecoin bank Dakota, founded by former Coinbase executives, has completed a $12.5 million Series A funding round, led by CoinFund

ChainCatcher news, according to Fortune magazine, stablecoin bank Dakota, founded by former Coinbase executive Ryan Bozarth, has completed a $12.5 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 banking-like account services for businesses and individuals. Its business model combines traditional banking functions with blockchain technology, primarily serving overseas corporate clients in non-crypto sectors. The platform has processed $1.6 billion in transaction volume and is expected to reach $4 billion by the end of 2025. Although it does not hold a banking license, the company is registered as a money services business in the United States and Europe.