Dakota Emerges From Stealth to Provide Bank-Like Services to Crypto Depositors

The model differs from earlier, centralized crypto lenders such as Celsius Network, which filed for bankruptcy in July 2022, and BlockFi, which followed suit four months later, said CEO Ryan Bozarth. In those cases, the companies stood at the center of the process: receiving deposits, lending them out and taking a fee from the interest payment.