New York-based fintech startup Dakota has raised $12.5 million in a Series A funding round led by CoinFund, with additional support from 6th Man Ventures and Triton Ventures. The company plans to use the capital to grow its product suite and expand globally, aiming to provide borderless, crypto-integrated banking solutions to businesses worldwide.
Bridging Traditional Finance and Blockchain
Founded in 2023, Dakota offers a business banking platform that enables companies to manage funds in US dollars or stablecoins while using conventional payment networks like ACH, Fedwire, SWIFT and SEPA. Although end users interact with familiar banking infrastructure, blockchain technology powers the backend, allowing for near-instant and verifiable transactions.
Dakota ensures that customer deposits are fully reserved and backed one-to-one by short-term US Treasuries. This model eliminates liquidity and counterparty risk, presenting a secure alternative to traditional financial services. The platform has already gained traction, serving over 500 business clients and processing billions in annualised transaction volume.
Rise of Stablecoins in Mainstream Finance
Dakota’s approach taps into the growing demand for stablecoin-based financial solutions. Stablecoins are digital currencies pegged to fiat assets like the US dollar and are increasingly being integrated into traditional finance systems due to their potential to streamline cross-border transactions.
Recent developments in US legislation, such as the Senate’s approval of the GENIUS Act, signal growing regulatory support for stablecoins. This changing regulatory landscape has encouraged businesses and fintech firms to explore blockchain-powered banking options.
A Global Banking Vision
With the fresh funding, Dakota is set to expand into more than 100 countries, targeting regions including the UK, the European Union, Singapore and parts of Latin America. The company’s ambition is to offer dollar-based banking services to entrepreneurs across the globe, regardless of their location.
CEO Ryan Bozarth highlighted the global nature of modern business, stressing that entrepreneurs in Bogotá and Bangalore should have the same access to reliable banking infrastructure as those in San Francisco. Dakota’s borderless platform is designed to make that possible.
Team with Industry Experience
Dakota’s leadership team includes alumni from major tech firms like Coinbase, Square and Airbnb. Their collective experience in crypto, fintech and consumer technology has helped shape the platform’s secure, scalable and user-friendly design.
By combining blockchain capabilities with traditional banking systems, Dakota aims to make financial operations faster, cheaper and more accessible for businesses operating internationally.
