Stablecoin infrastructure provider Bastion announced a $14.6 million funding round led by Coinbase Ventures, with participation from Sony’s venture arm, Samsung Next, a16z Crypto, and Hashed, as Fortune Crypto reported on Sept. 24.
Bastion operates as a white-label stablecoin issuer, enabling companies to launch their own branded digital currencies pegged to assets like the US dollar without hiring lawyers for regulatory licenses or developers for custom code.
The approach addresses growing corporate interest in stablecoin solutions following significant regulatory clarity achieved through recent legislation.
Former Meta Libra Team Drives Innovation
CEO Nassim Eddequiouaq and his team previously worked on Meta’s abandoned Libra stablecoin project before joining Andreessen Horowitz’s crypto arm, a16z Crypto.
The company raised $25 million in a 2023 seed round, though Eddequiouaq declined to specify the current valuation. He explained:
“We are building the tools tha
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