🌐 Bastion Raises $14.6 Million to Expand Stablecoin Infrastructure
Stablecoin infrastructure startup Bastion has raised $14.6 million in a new funding round led by Coinbase Ventures, the company announced Wednesday.
The round also included backing from Sony, Samsung’s investment arm, Andreessen Horowitz, and crypto VC firm Hashed. With this latest funding, Bastion has now raised roughly $40 million since its founding, following a $25 million round led by Andreessen Horowitz in September 2023.
Bastion has been quietly building in stealth mode, developing a platform that allows companies to issue stablecoins without needing their own licenses or creating custom infrastructure.
💡 Beyond White-Label Stablecoins
Unlike traditional stablecoin issuers, Bastion focuses on providing infrastructure for third-party stablecoin issuance. But the startup’s platform offers much more than just token issuance.
According to Bastion, its platform enables organizations of any size to integrate Web3 infrastructure seamlessly into existing technologies through a compliant white-label API that includes:
- Custodial wallets
- Smart transaction routing
- Data analytics
This approach allows businesses to deliver Web3 products with Web2-level efficiency, security, and compliance, addressing current infrastructure limitations.
“Businesses are ready to onboard the next billion, but limitations of current Web3 infrastructure prevent them from providing the stellar experiences their customers deserve,” the company explained.
Also Read : Grayscale Launches First Multi-Asset Crypto ETP After SEC Approval
📈 Growing Corporate Appetite for Stablecoin Solutions
“We are scaling to meet significant demand for regulated stablecoin infrastructure from some of the world’s largest enterprises. As digital assets and stablecoin adoption accelerate, Bastion is positioned to help businesses build world-changing financial products.”
Nassim Eddequiouaq, Bastion co-founder and CEO, emphasized the rising demand:
The funding comes amid rapid corporate adoption of stablecoins:
- Bullish Europe recently launched a stablecoin backed by Société Générale.
- Kazakhstan’s central bank piloted a tenge-backed stablecoin with Solana and Mastercard.
- PayPal expanded its PayPal USD stablecoin across eight blockchains.
- The euro-backed EURAU stablecoin debuted on Ethereum, supported by Deutsche Bank, Flow Traders, and Galaxy Digital.
Bastion’s growth reflects a broader trend: large corporations are increasingly embracing stablecoin infrastructure as a tool to innovate, improve compliance, and scale their Web3 offerings.
Bastion did not immediately respond to Cointelegraph‘s request for comment.
