TechFlow news, July 15 — According to Fortune, Dakota, a new bank founded by former Coinbase executives, announced today it has raised $12.5 million in a Series A funding round led by cryptocurrency venture capital firm CoinFund, with participation from 6th Man Ventures, Digital Currency Group (DCG), and Kraken's venture arm Triton Ventures.
Ryan Bozarth, co-founder and CEO of Dakota, said the round consisted solely of equity financing but declined to disclose the specific valuation. As a new type of bank, Dakota uses stablecoins to transfer funds between itself and its customers, offers checking account services, and provides deposit yields for users—primarily businesses.




