About this episode

The episode discusses the evolution of neobanks and the impact of stablecoins on fintech infrastructure with Ryan Bozarth from Dakota.

In this episode of Money Code, hosts Chuk Okpalugo and Raj Parekh sit down with Ryan Bozarth, co-founder and CEO of Dakota, to unpack how Dakota went from building its own neobank to selling the regulated infrastructure layer behind the next generation of stablecoin-native fintechs. They dig into why building a neobank has shifted from a 12-18 month, multimillion-dollar project to something teams can test in weeks, and why the next bottleneck is domain expertise, distribution, and knowing which underserved market is worth building for. Subscribe and listen to the Money Code podcast here: https://lnk.to/MoneyCodeSN Chapters 00:00 Dakota's path from neobank to infrastructure 01:18 What "neobank" means on stablecoin rails 03:39 The new build math: weeks, not years 05:48 Community banking comes back through niches 08:28 Global rails, niche markets, and real experiments 10:47 Dakota's earned pain: onboarding and compliance as code 13:45 AI-native builders and marketplace distribution 17:48 When the neobank becomes a feature 21:57 Distribution is still the hard part 27:42 GENIUS, PACE, and the payment-institution lane 31:29 Why non-bank payments companies could win 34:49…

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