The platform enables enterprises to use programmable stablecoins for payments and treasury while outsourcing custody, compliance and settlement.
Financial technology company Dakota launched a stablecoin infrastructure platform as more enterprises look to adopt digital dollars without taking on the operational and regulatory burden of custody and compliance.
Dakota will handle custody, compliance and settlement on behalf of its clients. CEO Ryan Bozarth told Cointelegraph that the company operates in the US as a registered Money Services Business, while working with licensed banking and regulated payments partners in other regions. It is also pursuing Electronic Money Institution and Crypto-Asset Service Provider licenses in Europe.
This arrangement, according to Bozarth, enables Dakota to offer cross-border money movement without customers becoming regulated financial institutions themselves.
