Stablecoin infrastructure startup Bastion has raised $14.6 million in a funding round led by Coinbase Ventures, with participation from global heavyweights including Sony, the investment arm of Samsung, Andreessen Horowitz's crypto division, and venture capital firm Hashed. This brings Bastion's total capital raised to approximately $40 million, following a $25 million round in September 2023 led by Andreessen Horowitz.
Bastion, which had been building in stealth mode, provides a purpose-built platform for enterprises to issue regulated stablecoins without securing their own licenses or developing custom infrastructure. The company's white-label API integrates custodial wallets, smart transaction routing, and data analytics, aiming to reduce friction and regulatory risk for businesses adopting Web3 technologies. "Businesses are ready to onboard the next billion but, due to the limitations of Web3 infrastructure today, struggle to provide the stellar experiences their customers deserve," the company noted earlier this month.
CEO Nassim Eddequiouaq emphasized that Bastion is "growing to meet significant demand for regulated stablecoin infrastructure from some of the world’s largest enterprises," highlighting stablecoins' evolution into essential financial rails. The funding coincides with a wave of corporate stablecoin initiatives, such as Bullish Europe's euro-denominated stablecoin with Société Générale, Kazakhstan's central bank pilot with Solana and Mastercard, PayPal's expansion of PYUSD across eight blockchains, and the launch of EURAU on Ethereum by a consortium including Deutsche Bank's DWS.
This trend underscores the shift from niche crypto tools to corporate-driven infrastructure, with Bastion positioned to leverage regulatory frameworks like the EU's MiCA and the U.S. GENIUS Act.