Bastion, a leading provider of regulated stablecoin infrastructure, has recently announced that its total funding has now surpassed an $40 million. This milestone was achieved following a successful strategic financing round that brought in $14.6 million. The latest funding effort was spearheaded by Coinbase Ventures, a prominent investor in the crypto space, and also saw considerable participation from Sony Innovation Fund, a16z crypto, Samsung Next, and Hashed.
This funding will be used to support the adoption of Bastion’s diverse product offerings. These offerings are specifically designed to empower enterprises and financial institutions with the essential tools needed to issue, hold, and effectively utilize stablecoins on a large scale within their existing ecosystems. The platform ensures that these operations are not only efficient and secure but also fully compliant with regulatory standards.
This funding round represents a crucial moment for Bastion, as it further solidifies its core mission. The company aims to be the trusted partner for global enterprise stablecoin issuance and various crypto trading activities.
The institutional support demonstrated through this funding round clearly highlights the growing recognition of stablecoins as a fundamental component of the next generation of financial systems. And it underscores the belief that stablecoins will play a pivotal role in shaping the future of finance.
Bastion’s infrastructure was meticulously developed from the ground up with a strong emphasis on compliance. This foundational approach ensures that enterprises are equipped with everything necessary to issue, hold, and effectively use stablecoins within their respective environments.
The company’s Stablecoin-as-a-Service platform simplifies the process for enterprises to issue and manage stablecoins with remarkable ease. This comprehensive service covers all critical aspects, including the initial issuance of stablecoins, diligent reserve management to maintain stability, and efficient liquidity management. And it comes with built-in regulatory licensing and compliance features, removing a significant burden from businesses. The platform also provides secure custodial wallets and facilitates smooth on- and off-ramps, thereby delivering a complete end-to-end infrastructure that requires no additional regulatory effort from its users.
The growth experienced by Bastion is a direct reflection of the surging demand for enterprise-grade stablecoin solutions across various industries worldwide. The need for robust and reliable stablecoin platforms has become increasingly apparent as businesses seek to leverage the benefits of digital currencies while maintaining stability and adhering to regulations.
With over $40 million in funding already secured and additional commitments actively in progress, Bastion has also made strategic moves to strengthen its leadership team. The company has welcomed several key individuals, enhancing its expertise and capacity for future expansion. These notable appointments include Jared Klee as Head of Revenue, Vince Tejada as Head of Treasury and Strategic Finance, Beth Gibson as General Counsel, and Rohan Kohli as Chief Risk & Compliance Officer.
KEY QUOTES:
“Bastion is growing to meet significant demand for regulated stablecoin infrastructure from some of the world’s largest enterprises. The evolution of our financial system will continue to accelerate as digital assets and stablecoin adoption proliferates, and Bastion is positioned to help businesses build world-changing financial products.”
Nassim Eddequiouaq, Co-Founder and CEO of Bastion
“Trusted digital asset infrastructure is the bedrock for the creation of scalable digital financial products that enterprises increasingly seek. We continue to invest in the businesses building crypto products safely and scalably, and are energized by change-makers like Bastion who are making enterprise stablecoin adoption a reality.”
Shan Aggarwal, Chief Business Officer at Coinbase
“Sony Innovation Fund invests in companies actively advancing transformative technologies, and Bastion embodies that. Nassim and the team are laser-focused on revolutionizing digital financial infrastructure for enterprises globally. Their approach to stablecoin solutions, led by compliance, security and product innovation, is setting the industry standard. We’re thrilled to support this team fundamentally reinventing how transactions flow, and we look forward to seeing them cultivate new opportunities.”
Austin Noronha, Managing Director, Sony Ventures – U.S.
“We’ve seen meaningful growth at Bastion over the last year, and we’re encouraged by the overwhelming interest and engagement from major industry stakeholders and enterprises. The momentum around stablecoins is undeniable. This strategic financing round will propel Bastion into its next growth phase to power the future of enterprise stablecoin technology at scale.”
Caroline Friedman, COO and Founding Member of Bastion
