Coinbase Ventures Leads $14.6M Funding Round For Stablecoin Startup Bastion
Synopsis
Other participants in the round included Sony Ventures, Samsung Ventures, Andreessen Horowitz’s crypto arm, and VC firm Hashed.
New York-based crypto startup Bastion announced on Wednesday that it had raised $14.6 million in a round led by Coinbase Ventures, the crypto exchange’s venture fund.
Bastion enables businesses to launch their own branded stablecoins without navigating complex regulatory requirements or building proprietary software. Other participants in the round included Sony Ventures, Samsung Ventures, Andreessen Horowitz’s crypto arm, and VC firm Hashed.
Bastion is led by CEO Nassim Eddequiouaq, a former Meta (META) and a16z crypto executive who worked on the Libra stablecoin project, Meta’s now-defunct stablecoin. Eddequiouaq said the company is scaling to meet growing demand from large enterprises for regulated stablecoin infrastructure.
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