Financial technology company Dakota has launched a stablecoin infrastructure platform as more enterprises look to adopt digital dollars without taking on the operational and regulatory burdens of custody and compliance.
Dakota will handle custody, compliance and billing on behalf of its clients. CEO Ryan Bozarth told Cointelegraph that the company operates in the U.S. as a registered money services company while working with licensed banking and regulated payments partners in other regions. It is also seeking to obtain e-money institution and crypto asset service provider licenses in Europe.
According to Bozarth, this solution allows Dakota to offer cross-border cash flow without having to become customers of self-regulated financial institutions.
“Teams can program when and where money goes, how it is managed and what happens after it is settled, including approvals, limits, reconciliations and treasury actions,” Bozarth said.
According to the company, over 700 companies exploit its platform, including crypto companies and fintech platforms.
“Stablecoins make this possible because they are digital dollars built on programmable infrastructure,” he said. “This allows money to behave like modern software – it can be composed, automated and consistent across borders.”
Related: Fidelity is preparing a digital dollar as stablecoins enter institutional finance
The rise of programmable money
2025 marked the rise of stablecoins as the mainstream crypto narrative. While most stablecoins still function primarily as digital cash, an increasing number of companies and countries are experimenting with programmable money, embedding rules, automation and control directly into the way funds move within applications.
In August, M0 raised $40 million in a Series B round led by Polychain Capital and Ribbit Capital to build infrastructure that allows developers to issue application-specific stablecoins with built-in rules for access, liquidity and usage. The Swiss company has partnered with projects like MetaMask to integrate custom stablecoins directly into consumer-facing applications.
That same month, Rain raised $58 million in a Series B led by Sapphire Ventures to expand tools that enable banks and enterprises to issue regulated stablecoins and automate compliant cash flows. The company focuses on exploit cases such as real-time payroll, programmable cards, and controlled spending programs across multiple blockchains.
In addition to business payments, programmable money is also being tested in government pilot programs where rules are enforced directly within the monetary layer.
In 2024, Kazakhstan tested programmable money through two pilot projects using the digital tenge, the central bank’s digital currency, including a rail infrastructure project in which funds were released only when pre-defined milestones were met, and a separate National Bank program that automated VAT refunds, reducing processing times from over two months to around two weeks.
The Reserve Bank of India also plans to expand its digital rupee pilots by adding features such as programmability and offline payments. The central bank said the improvements are aimed at tailoring payment flows for specific uses, including government transfers and corporate spending.
Warehouse: Indian outrage over Pudgy Penguins, China CBDC chief’s crypto scandal: Asia Express
