Stablecoin Infrastructure Startup Bastion raised $ 14.6 million in a new funding of funding led by Coinbase Ventures, Fortune reports.
Bastion builds white-label stablecoin systems that allow companies to issue digital dollars without writing code or applying for regulatory licenses. The cycle includes participation from Sony and Samsung’s venture arms, as well as the division of Andreessen Horowitz (A16z) and hashed.
The startup was led by Nassim Eddequiouaq, a former Meta and A16Z crypto executive who worked in Libra, now defunct stablecoin meta project. Eddequiouaq said the bastion product suite is beyond the simple release: this includes purses for users and off-ramps allowing cash conversion to more than 70 countries.
The appreciation of the latest funding of the funding was not expressed, and the company raised $ 25 million back in 2023 with a cycle led by A16Z Crypto.
That position is Bastion to compete with companies like Paxos and newer players like Agora. The firm declined to name which corporations are currently using its platform, but Eddequiouaq said announcements will come in the next nine months.
The fund came in the middle of a wider stablecoin boom. Stripe recently Stablecoin Startup Bridge got For $ 1.1 billion, the USDC provided Circle went public On Tag -Sun, while the leader of Stablecoin’s release is reported looking to raise up to $ 20 billion in a The appreciation can be as high as $ 500 billion.
