Neobank Dakota: Pioneering Global Money Movement Services through Stablecoin Rails
As the demand for stablecoin services increases, fintech firms are quickly shifting gears to meet the needs of enterprises worldwide. A leading name in this race is Dakota, a neobank founded by ex-Coinbase executive, Ryan Bozarth. Recently, Dakota has made a defining move towards becoming a stablecoin infrastructure platform with a focus on offering global money movement services to businesses.
Dakota’s Journey and Vision
Founded in 2022, Dakota started as a banking and stablecoin fintech for businesses. However, the latest $12.5 million Series A funding led by CoinFund has enabled the firm to expand its horizons and move towards becoming a stablecoin infrastructure platform.
As the CEO of Dakota, Bozarth expressed that most companies do not wish to become banks or payment networks. Instead, they require reliable, regulated primitives for money movement within their products. Dakota aims to provide this infrastructure, allowing teams to focus on product development and growth, rather than licensing, custody, or compliance.
Stablecoin Services Offered by Dakota
Dakota is now offering a range of stablecoin-based services to its business customers. This includes APIs for stablecoin custody, cross-border treasury operations, compliance tools, international payout options, and an upcoming stablecoin issuance product.
As a registered money services business in the United States, Dakota holds state money transmitter licenses instead of a bank charter. It is also in the process of acquiring electronic money institution and crypto asset service provider licenses in Europe.
Partnerships and Collaborations
Dakota has partnered with multiple global banks for fiat currency services, with FDIC insurance provided through U.S. bank partners like Lead Bank. Another notable partnership is with Bridge, a stablecoin platform recently acquired by Stripe. Dakota uses Bridge’s APIs to handle fund transfers and deposits without directly managing customer funds and to issue its own DKUSD stablecoin. Bridge also backs funds deposited into Dakota with U.S. Treasuries.
The Increasing Demand for Stablecoins
According to a survey conducted by EY in September 2025, organizations using stablecoins are reporting cost savings upwards of 10%. It is projected that by 2030, stablecoins could account for 5% to 10% of global payments. This increasing demand is primarily driven by financial institutions, with 23% reportedly using stablecoins compared to 8% of corporate respondents.
While traditional financial institutions are still catching up with this demand due to their existing legacy infrastructure, fintechs like Dakota are well-positioned to bridge the gap. Dakota is observing an increasing demand from fintechs and payment service providers looking to build new products on stablecoin infrastructure or supplement their existing products with stablecoins as a payment rail.
In conclusion, as the global demand for stablecoin services increases, Dakota’s pioneering move to become a stablecoin infrastructure platform comes at an opportune time. By focusing on offering reliable, regulated primitives for money movement, Dakota is set to redefine the way businesses operate.
Source: Here
