Key Takeaways:
- Bastion raised $14.6 million in a funding round led by Coinbase Ventures, with backing from Sony, Samsung, and Andreessen Horowitz.
- The startup offers white-label infrastructure for businesses to issue compliant stablecoins without handling regulatory licensing.
- Bastion’s platform integrates Web3 features like custodial wallets and analytics into traditional systems, targeting large-scale enterprise adoption.
Bastion, a stablecoin infrastructure startup, has raised $14.6 million in a new funding round led by Coinbase Ventures, with participation from Sony, Samsung’s investment arm, Andreessen Horowitz’s crypto division, and Hashed.
This brings the company’s total funding to about $40 million, following a $25 million raise in September 2023.
1/ After months of building in stealth mode, we are ready to introduce ourselves and announce our $25M fundraise led by @a16zcrypto.
— Bastion (@BastionPlatform) September 18, 2023
We are Bastion, and we are here to help brands and businesses build a digital world that people actually want to live in 🧵👇 pic.twitter.com/mZPCxo1yRl
Bastion’s core product is a white-label platform that enables businesses to issue stablecoins without needing their own regulatory licenses or building custom infrastructure.
The company also provides complementary Web3 tools, including custodial wallets, transaction routing, and data analytics, designed to integrate seamlessly with existing Web2 systems while ensuring compliance, cost-efficiency, and security.
CEO Nassim Eddequiouaq highlighted rising enterprise demand for regulated stablecoin infrastructure, stressing Bastion’s role in supporting companies aiming to build new financial products.
The funding comes amid accelerating corporate interest in stablecoins: Société Générale-backed Bullish Europe recently launched a stablecoin, Kazakhstan’s central bank partnered with Solana and Mastercard on a pilot, PayPal expanded its USD stablecoin across eight blockchains, and a euro-pegged stablecoin, EURAU, debuted on Ethereum.
Bastion positions itself as a key enabler of mainstream adoption, bridging compliance with blockchain benefits.
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