🚀 Dakota Now Accessible to Businesses Worldwide
posted 19 Nov 2024
Dakota, created by former Coinbase Custody CEO Ryan Bozarth, has officially launched for companies worldwide. The platform’s goal is to simplify access to traditional banking services, especially for smaller crypto startups that face significant challenges.
Crypto foundations are largely overseas entities, so international. Because they are international and affiliated with crypto, they have an extremely hard time and limited options in getting a bank accountBozarth explains.
He points out that current regulations prevent crypto companies from accessing necessary banking services. Dakota provides fee-free standard payments through renowned systems like ACH, SWIFT, and Fedwire, without time constraints, giving users full control over their funds.
This functionality is achieved through the automatic and covert conversion of deposits into yield-producing stablecoins backed by U.S. Treasury bonds. The company guarantees that the dollar peg will remain stable, and all users will enjoy a universal yield calculated on the standard bond interest rate.
“Why? Because traditional banking isn’t built for today’s global economy. Transactions are slow, earning yield is complicated, and banks can deny access without warningBozarth commented on why the platform was created.
The entry-level cost for platform use is $50. While this standard subscription suits small businesses, larger entities can opt for a higher-tier plan at $349 or arrange for a custom plan. Over 200 commercial clients have already started benefiting from the platform.
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