Former Coinbase Custody CEO Launches New Company Dakota to Provide Crypto Banking Solutions

Odaily News Dakota, a new startup from former Coinbase Custody CEO Ryan Bozarth, has been publicly launched to provide reliable crypto-native banking solutions for cryptocurrency startups and foundations. The platform promises to address the growing difficulties faced by crypto organizations in accessing traditional banking services, a problem that has become increasingly apparent following the collapse of Silvergate Bank. As the crypto industry continues to face regulatory uncertainty, many cryptocurrency companies have struggled to find banking partners. Dakota is reportedly a "crypto-native" online banking platform that allows customers to make U.S. dollar transfers without paying common fees such as ACH, Fedwire, SWIFT or SEPA. In addition, customers can also earn rewards by holding U.S. Treasuries, and their deposits are fully backed by U.S. Treasuries. (TheBlock)