The Bastion platform has secured a $14.6 million investment led by major technology and cryptocurrency funds to boost its stablecoin infrastructure service. Coinbase Ventures, Sony Innovation Fund, Samsung Next, a16z crypto and Hashed participated in this round, bringing the company’s total funding to more than $40 million. Institutional interest in “Stablecoin-as-a-Service” products is growing, allowing companies to launch digital currencies while complying with regulations.
Bastion offers an end-to-end platform that enables companies to launch branded stablecoins, handling wallet setup, fiat on- and off-ramps, and compliance procedures. It positions itself alongside competitors such as Paxos and Agora in the growing payments infrastructure market. According to its CEO Nassim Eddequiouaq: “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 “Stablecoin-as-a-Service” concept removes the need for in-house development and specific licenses, taking care of the technical and regulatory work required to issue and operate stablecoins. Bastion enables cross-border conversions in up to 70 countries, a feature corporate treasurers can leverage for both payments and liquidity management.
A comprehensive platform for enterprise stablecoins
Backing from Coinbase, Sony and Samsung provides three valuable types of support: expertise in crypto exchanges, scale in consumer products, and venture capital. This funding could drive corporate adoption, with mid-size and large companies issuing stablecoins for payments or loyalty programs. Connections to on- and off-ramps across numerous jurisdictions will reduce delays for issuers that need to move fiat currencies.
However, challenges remain around divergent regulation, transparency requirements, and security concerns that will test Bastion’s compliance stack. Competition in the infrastructure sector will also intensify, potentially pushing all providers to add tools such as automated treasury management and supply caps.
After this funding round, Bastion plans to expand its fiat rails to new jurisdictions, with its next operational step being the extension of these fiat on- and off-ramps.
