According to TechFlame, according to Fortune magazine, Dakota, a stablecoin bank founded by former Coinbase executive Ryan Bozarth, completed a $12.5 million Series A round, led by CoinFund, and 6th Man Ventures, Digital Currency Group, and Kraken's Triton Ventures. Dakota uses stablecoins to transfer funds and provides bank account services for businesses and individuals. Its business model combines traditional banking functions with blockchain technology to mainly serve overseas enterprise users in the non-cryptographic sector. Currently, the platform has processed $1.6 billion in transactions and is expected to reach 4 billion US dollars by the end of 2025. Although it does not have a banking license, the company is registered as a money services operator in the US and Europe.