Regulated stablecoin infrastructure provider Bastion raised an additional $14.6million in a strategic financing round, bringing its total funding to date to over $40million. The round was led by Coinbase Ventures, with participation from Sony Innovation Fund, a16z crypto, Samsung Next, and Hashed.
The new capital will be used to support the adoption of Bastion’s product offerings, which provide enterprises and financial institutions with the tools to issue, hold, and utilise stablecoins at scale in a compliant manner.
Meeting enterprise demand for regulated stablecoin infrastructure
“Bastion is growing to meet significant demand for regulated stablecoin infrastructure from some of the world’s largest enterprises,” said Nassim Eddequiouaq, co-founder and chief executive officer of Bastion. “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.”
The company’s Stablecoin-as-a-Service platform is designed to provide end-to-end infrastructure for enterprises, covering issuance, reserve management, and liquidity management, all with built-in regulatory licensing and compliance. The platform also includes custodial wallets and on- and off-ramps.
Shan Aggarwal, chief business officer at Coinbase, commented on the investment: “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.”
Strengthening the leadership team
Alongside the new funding, Bastion has made several strategic hires to its leadership team. These 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 and compliance officer.
“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,” added Caroline Friedman, chief operating officer and a founding member of Bastion. “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.”
Austin Noronha, managing director at Sony Ventures – U.S., also commented: “Sony Innovation Fund invests in companies actively advancing transformative technologies, and Bastion embodies that. Their approach to stablecoin solutions, led by compliance, security and product innovation, is setting the industry standard.”
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