Crypto Banking Startup Dakota Raises $12.5M for Global Stablecoin Push

Dakota, a crypto-integrated banking platform founded by alumni of Coinbase, Square, and Airbnb, has secured $12.5 million in a Series A funding round led by CoinFund. The investment, which saw participation from 6th Man Ventures and Triton Ventures, will fuel the expansion of its borderless banking services.

The startup enables businesses to hold and MOVE funds in U.S. dollars or stablecoins while utilizing traditional payment networks like ACH, SWIFT, and SEPA. By leveraging blockchain technology, Dakota settles transfers nearly instantly, offering a faster alternative to conventional banking. "We believe stablecoins can revolutionize business banking," said Alex Felix, CIO of CoinFund.

The announcement comes as stablecoins gain traction in traditional finance, with regulatory advancements like the GENIUS Act progressing in the U.S. Dakota's approach combines the familiarity of bank accounts with the efficiency of crypto rails, positioning it at the forefront of financial innovation.