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About Dakota
Dakota is a stablecoin infrastructure platform that helps businesses store, move, and manage digital dollars through APIs. Its core services include custodial accounts, payment settlement, and operational accounts that support both traditional rails (SWIFT, ACH, Fedwire, SEPA) and on-chain transfers. The company positions itself as a regulated alternative to unregulated crypto intermediaries, operating as a money services business in the US while pursuing additional licenses in Europe.
The main pain point Dakota addresses is the operational burden for companies wanting to use stablecoins without becoming regulated financial institutions themselves. Many businesses face compliance, custody, and settlement challenges when handling digital assets. Dakota takes on these responsibilities on behalf of clients, allowing teams to programmatically control fund flows, approvals, limits, and reconciliation.
In the past six months, Dakota has applied for a national trust bank charter with the US Office of the Comptroller of the Currency (OCC). This move would elevate its regulatory status from money services business to federally regulated bank, potentially expanding its ability to offer custody and issuance services. The company reports over 700 businesses currently use its platform.
No significant negative developments were identified in the available information during this period.
Dakota, a crypto-native bank founded by former Coinbase executives, emerged from stealth on July 24, 2024, offering bank-like services for crypto depositors. The company was established by alumni of Coinbase, Airbnb, and Anchorage, aiming to address the shortcomings of centralized lenders like Celsius and BlockFi. Its model allows clients to earn returns through DeFi protocols while maintaining transparency. On July 15, 2025, Dakota completed a $12.5 million Series A funding round led by CoinFund, with participation from 6th Man Ventures and Triton Ventures. The funding supports its expansion to over 100 countries, including the UK, EU, Singapore, and parts of Latin America. Dakota operates as a registered money services business in the US and is pursuing licenses in Europe, positioning itself as a regulated infrastructure provider for stablecoin payments and treasury management.
Over the past six months, Dakota's key progress: 1) Applied to the U.S. OCC for a national trust bank charter, planning to offer digital asset custody, USD stablecoin issuance, and settlement as a federally regulated entity; the charter does not cover deposit services, and if conditionally approved, Dakota would have 18 months to build operations and open. 2) Evolved from a crypto-native bank into a stablecoin infrastructure platform, providing regulated global money movement, treasury, and payout modules via APIs, while expanding regulatory footprint in Europe. 3) Launched pay-as-you-go pricing and official TypeScript/Go SDKs with MCP support for AI agent integration. Future focus: building "intelligent capital"—programmable, compliance-by-default money movement automated by data and AI—and completing the trust bank charter approval to become a federally regulated custodian and stablecoin issuer.
Co-founders and core executives:
Ryan Bozarth (Co-founder & CEO): Former CEO of Coinbase Custody, led product/design at Anchorage, Airbnb, and Square.
Gabe Grazier G'Sell (Co-founder & CTO): Also founder of Songcraft, software consultant, ex-Airbnb engineer.
João Peixoto (Co-founder): Details not publicly available.