Crypto and banking are drawing ever closer. Big banks like JPMorgan and Citi are exploring digital asset integrations, and big crypto companies like Circle and Ripple are applying for bank charters. Dakota, a neobank cofounded by a former Coinbase executive, aims to combine both corners of finance—and investors are betting it’ll succeed.
On Tuesday, the startup announced that it had raised $12.5 million in a Series A led by the crypto venture firm CoinFund. Other participants included 6th Man Ventures, Digital Currency Group, and Triton Ventures. (Triton is the venture arm of the crypto exchange Kraken).
