Share this article
Coinbase, Sony and Samsung Back $14.6M Round for Stablecoin Startup Bastion
The firm white-label stablecoin systems, enabling companies to issue digital dollars without coding or their own regulatory licenses.
Updated Sep 24, 2025, 1:59 p.m. Published Sep 24, 2025, 1:14 p.m.
Make us preferred on Google
What to know:
- Bastion raised $14.6 million in a funding round led by Coinbase Ventures, with participation from Sony, Samsung, Andreessen Horowitz, and Hashed.
- The firm white-label stablecoin systems, enabling companies to issue digital dollars without coding or their own regulatory licenses.
- It competes with Paxos and Agora, offering a product suite that includes wallets and off-ramps for cash conversion.
Stablecoin infrastructure startup Bastion has raised $14.6 million in a new funding round led by Coinbase Ventures, the company said in a press release shared with CoinDesk, bringing its total funding to over $40 million.
Bastion builds white-label stablecoin systems that let companies issue digital dollars without writing code or applying for regulatory licenses. The round included participation from the venture arms of Sony and Samsung, as well as Andreessen Horowitz’s crypto division and Hashed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The startup is led by Nassim Eddequiouaq, a former Meta and a16z crypto executive who worked on Libra, Meta’s now-defunct stablecoin project. Eddequiouaq said Bastion’s product suite goes beyond simple issuance: it includes wallets for users and off-ramps that allow conversion to cash in over 70 countries.
The valuation of this latest funding round wasn’t revealed, and the company raised $25 million back in 2023 in a round led by a16z crypto.
The company said it’s seeing particular traction in Asia, where demand from enterprise customers is rising. The fresh funding will support product expansion and hiring. Bastion has also recently added new leadership across compliance, treasury, legal and revenue, the company said.
That positions Bastion to compete with firms like Paxos and newer players like Agora. The firm declined to name which corporations are currently using its platform, but Eddequiouaq said announcements are coming within the next nine months.
The funding comes amid a broader stablecoin boom. Stripe recently acquired stablecoin startup Bridge for $1.1 billion, USDC issuer Circle went public over the summer, while leading stablecoin issuer Tether is reportedly looking to raise up to $20 billion at a valuation that could be as high as $500 billion.
UPDATE (Sept. 24, 13:58 UTC): Updated story to add that Bastion said it's seeing traction in Asia and details the use of funds.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
