Bastion, a startup specializing in white-label stablecoin issuance, has raised $14.6 million in a funding round led by Coinbase Ventures, the company announced Wednesday. The round also included participation from Sony, Samsung’s investment arm, Andreessen Horowitz Crypto, and Hashed, highlighting strong corporate interest in regulated stablecoin infrastructure.
The startup provides companies with a platform to issue stablecoins without building their own licenses or custom infrastructure, offering compliant, plug-and-play solutions for enterprises entering the digital asset ecosystem.
Bastion expands beyond stablecoin issuance
While Bastion focuses on third-party stablecoin issuance, its platform also delivers broader Web3 capabilities. Companies can integrate custodial wallets, smart transaction routing, and data analytics via an API, bridging Web3 functionality with the familiarity, security, and compliance standards of Web2 technology.
Co-founder and CEO Nassim Eddequiouaq emphasized that the platform addresses growing demand for regulated stablecoin infrastructure among major enterprises.
Businesses are ready to onboard the next billion, but due to the limitations of Web3 infrastructure today, they struggle to provide stellar experiences. Bastion helps them overcome these challenges.
The company had been building in stealth before closing an earlier $25 million funding round led by Andreessen Horowitz, marking a rapid series of investments in its early stage.
Stablecoins draw corporate and global adoption
The round underscores rising corporate interest in stablecoins as financial institutions explore regulated digital asset offerings. Examples include:
- Bullish Europe launching a stablecoin backed by Société Générale.
- Kazakhstan’s central bank piloting a fiat-backed stablecoin in collaboration with Solana and Mastercard.
- PayPal expanding PayPal USD (PYUSD) across eight new blockchains.
- EURAU, a euro stablecoin venture backed by Deutsche Bank’s DWS, Flow Traders, and Galaxy Digital, debuting on Ethereum.
Bastion aims to position itself at the forefront of enterprise adoption, enabling companies to deploy world-changing financial products on-chain without the regulatory and technical hurdles of traditional Web3 infrastructure.