Bastion Raises $14.6M to Expand Stablecoin Infrastructure
Bastion, founded in 2023 by former a16z crypto executives, has raised $14.6 million in a strategic round led by Coinbase Ventures, bringing total funding above $40 million. Sony Innovation Fund, a16z Crypto, Samsung Next and Hashed also participated. Bastion holds an NYDFS trust charter and offers a compliance-first stablecoin infrastructure platform that integrates issuance, custody, liquidity and reserve management with fiat on/off ramps. Coinbase CBO Shan Aggarwal calls this stablecoin infrastructure the “bedrock” for scalable institutional products. With Morgan Stanley forecasting growth of the stablecoin market from $300 billion to over $2 trillion by 2028, Bastion plans to scale its compliance-led infrastructure to meet rising enterprise demand for stablecoin infrastructure in payments, settlements and treasury functions.
Neutral
The news focuses on Bastion’s fundraising and product development in stablecoin infrastructure without referencing a specific cryptocurrency token. While institutional demand for stablecoin infrastructure may underpin broader sector growth, it lacks an immediate, direct impact on any particular coin’s market price. As a result, the overall price impact on specific cryptocurrencies is neutral.