About Dakota

How is my money protected with Dakota?

We have a world class security team and robust insurance policies. While we are not a bank and do not offer FDIC insurance, we secure all operations with comprehensive cyber, crime, and E&O insurance. Since deposits are held as stablecoins like USDC and backed by U.S. Treasuries, the need for traditional FDIC insurance is mitigated. Stablecoins provide a safer, more transparent option, as they are issued by regulated entities that regularly demonstrate proof of reserves.

What licenses does Dakota hold?

Dakota Platform, Inc. is a wholly owned subsidiary of Dakota Ridge Inc. and is registered as a Money Services Business (MSB) in the United States.

Is Dakota a bank?

No. Dakota is a financial technology company, not a bank. We provide a modern business banking platform that delivers bank-like services — such as accounts and payment processing — by working with regulated banking partners and leveraging stablecoins.

Can I use Dakota to transfer funds on my clients behalf?

Yes. This functionality is available through our Platform product, not the Operating Account.

If you require the ability to transfer funds on behalf of your clients and are not yet set up with the Platform product, please contact support@dakota.xyz for assistance.