Stablecoin startup Bastion completes $14.6 million funding, led by Coinbase

ChainCatcher news, according to Fortune, stablecoin startup Bastion announced the completion of a $14.6 million funding round led by Coinbase Ventures.

Bastion is a stablecoin white-label issuer that provides brand stablecoin issuance services for businesses without the need to obtain regulatory approval or develop software themselves. Other participants in this funding round include Sony's venture capital arm, Samsung's venture capital arm, Andreessen Horowitz's crypto division, and crypto venture capital firm Hashed.

The company's co-founder and CEO Nassim Eddequiouaq declined to disclose the specific valuation but stated that the team had completed a $25 million seed funding round in 2023. Eddequiouaq and co-founder Riyaz Faizullabhoy (who has since left) were both former executives at Andreessen Horowitz's crypto division and had participated in Meta's shelved stablecoin project Libra.