Dakota Raises $12.5M to Expand Global Stablecoin Services

Dakota, a crypto-integrated banking platform, has raised $12.5 million to expand its global stablecoin services. The startup, backed by CoinFund, allows businesses to hold and move funds in US dollars or stablecoins through traditional payment networks, using blockchain to settle transfers nearly instantly. The funding will enable Dakota to expand to over 100 countries, including the UK, EU, Singapore, and parts of Latin America.

Dakota, a crypto-integrated banking platform, has secured $12.5 million in a Series A funding round led by CoinFund, with participation from 6th Man Ventures and Triton Ventures. The investment will support Dakota's mission to expand its borderless banking services, particularly its stablecoin offerings, to over 100 countries. The startup aims to provide businesses with a seamless way to hold and move funds in U.S. dollars or stablecoins through traditional payment networks, leveraging blockchain technology for near-instant transfers.

Dakota's platform allows businesses to send and receive payments via regular bank accounts without directly handling cryptocurrencies. This approach combines the familiarity of a traditional bank account with the speed and efficiency of blockchain technology. The platform is fully backed by short-term U.S. Treasuries, ensuring customer deposits are 1:1 reserved and eliminating liquidity and counterparty risks.

The funding will enable Dakota to expand its services to countries such as the UK, European Union, Singapore, and parts of Latin America. This expansion comes at a time when stablecoins are increasingly being adopted as a cheaper and faster alternative for cross-border payments. Advancing U.S. regulation is also bolstering the growth of stablecoins, with the Senate having passed the GENIUS Act and the House aiming to vote on the proposal soon.

"We believe stablecoins can revolutionize business banking," said Alex Felix, CIO of CoinFund. "Dakota is unlocking that potential by combining the familiarity of a bank account with the power of crypto rails."

Dakota was founded by alumni from Coinbase, Square, and Airbnb, and has already attracted over 500 business customers since its launch in 2023. The platform processes billions of dollars in annualized transaction volume, demonstrating its potential in the modern, borderless financial landscape.

References:
[1] https://www.coindesk.com/business/2025/07/15/crypto-banking-startup-dakota-raises-125m-for-global-stablecoin-push
[2] https://finance.yahoo.com/news/crypto-banking-startup-dakota-raises-130044592.html
[3] https://www.globenewswire.com/news-release/2025/07/14/3114730/0/en/GoldenMining-integrates-into-the-XRP-blockchain-to-improve-cloud-mining-settlement-speed-and-revenue.html
[4] https://www.prnewswire.com/news-releases/dakota-raises-12-5m-in-a-series-a-fuding-round-led-by-coinfund-to-bring-banking-into-the-internet-age-302505576.html