The Stablecoin Bastion infrastructure startup has raised $ 14.6 million in a new round of funds led by Coinbase Ventures, the company said in a press release shared with Condenesk, which raises its total financing to more than $ 40 million.
BASCTION BUILDS STABLECOIN BLANCA SYSTEMS that allow companies to issue digital dollars without writing code or request regulatory licenses. The round included the participation of Sony and Samsung’s risky arms, as well as the Andreessen Horowitz and Hash Criptographic division.
The startup is directed by Nassim Eddequiouaq, a former Meta and A16z executive who worked in Libra, the now missing Metablin Stablingin project. Eddequiouaq said that Bastion’s products suite goes beyond simple broadcast: includes wallets for users and ramps out of place that allow cash conversion in more than 70 countries.
The valuation of this last round of funds was not revealed, and the company raised $ 25 million in 2023 in a round directed by A16z Crypto.
The company said it is seeing a particular traction in Asia, where the demand for business clients is increasing. The new financing will admit the expansion and contracting of the product. Bastion has also recently added a new leadership in compliance, treasure, legal and income, the company said.
That positions Bastion to compete with companies such as newer paxos and players like Agora. The firm declined to name which corporations are currently using its platform, but Eddequiouaq said the ads will arrive in the next nine months.
The financing occurs in the middle of a broader boom in Stablecoin. Stripe recently acquired Starcoin Startup Bridge for $ 1.1 billion, the USDC circle of emitters was made public during the summer, while Stablecoin Emier Tether leadership seeks to raise up to $ 20 billion to an assessment that could be up to $ 500 billion.
Update (September 24, 13:58 UTC): Updated history to add that Bastion said he is seeing traction in Asia and details the use of funds.
