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Dakota, a cryptocurrency bank, offers financial management and other services to businesses

Dakota, a crypto bank founded on Wednesday by a group of former executives from Airbnb, Anchorage and Coinbase Custody, aims to provide financial management, lending and payment services to businesses. CEO Ryan Bozarth said their model was different from earlier centralized cryptocurrency lenders, with the company at the center of the process: receiving deposits, lending deposits and collecting fees from interest payments.