TechFlow news, September 24 — According to Fortune, stablecoin startup Bastion has announced a $14.6 million funding round led by Coinbase Ventures. Other participants in this round include Sony’s venture arm, Samsung’s venture division, Andreessen Horowitz’s crypto unit, and crypto-focused venture firm Hashed.
Bastion provides enterprises with branded stablecoin issuance services without requiring them to obtain regulatory licenses or develop software independently. Co-founder and CEO Nassim Eddequiouaq declined to disclose the company’s specific valuation but mentioned that the team previously raised a $25 million seed round in 2023. Eddequiouaq and co-founder Riyaz Faizullabhoy, who has since departed, were both executives at Andreessen Horowitz’s crypto division and had worked on Meta’s now-defunct stablecoin project, Libra.
