Coinbase, Sony Back Bastion to Fuel Enterprise Stablecoin Adoption

Stablecoin startup Bastion has secured $14.6 million in a funding round led by Coinbase Ventures, with participation from Sony’s venture arm, Samsung’s venture arm, Andreessen Horowitz’s crypto division, and Hashed. The investment follows a $25 million seed round in 2023 and underscores growing interest in white-label stablecoin issuance platforms. Bastion provides businesses with tools to launch branded stablecoins without navigating regulatory or technical complexities, leveraging a team with prior experience at Meta’s Libra project and a16z’s crypto arm. The startup, which has 27 employees, positions itself as a competitor to established players like Paxos and Agora by offering integrated services such as crypto wallets and cash conversion in 70 countries.

The funding reflects a broader surge in stablecoin innovation, with industry milestones including Stripe’s $1.1 billion acquisition of Bridge and Circle’s public listing. Bastion’s CEO, Nassim Eddequiouaq, emphasized the startup’s competitive edge in a rapidly evolving market, citing its comprehensive tool suite and experience in large-scale projects like Libra. The company declined to disclose its valuation but highlighted its readiness to scale operations in the coming months.

Stablecoins, which maintain a stable value relative to fiat currencies, have become critical infrastructure for global finance. They facilitate cross-border payments, institutional settlements, and DeFi applications, with over $2.2 trillion in monthly transfers. Regulators, including the U.S. government, are increasingly framing dollar-pegged stablecoins as strategic assets to reinforce dollar dominance. The GENIUS Act, signed in 2025, mandates reserve requirements and transparency for issuers, aligning with broader efforts to integrate stablecoins into traditional financial systems.

Bastion’s services cater to enterprises seeking cost-effective and scalable solutions. Its platform enables businesses to bypass the legal and development hurdles of launching stablecoins independently. Sony’s venture director Ludovic Copéré noted the startup’s potential to act as a “glue” for corporates, enabling them to manage stablecoins efficiently. This aligns with trends in emerging markets, where stablecoins are increasingly used for remittances and savings due to their low fees and speed compared to traditional banking systems.

The stablecoin market is projected to grow significantly, with USD-denominated stablecoins now representing 1% of U.S. M2 money supply. Major issuers like Tether and Circle dominate 89% of the market, but new entrants—particularly banks and fintechs—are emerging as regulators clarify the legal framework. Bastion’s participation in this landscape highlights the sector’s shift from niche experimentation to macroeconomic relevance, with stablecoins serving as both a payment rail and a tool for extending U.S. monetary influence.

Eddequiouaq expressed confidence in Bastion’s ability to compete despite market saturation. The startup’s focus on end-to-end solutions, including conversion pathways and wallet infrastructure, differentiates it from rivals. As stablecoins gain traction in both speculative and enterprise contexts, Bastion’s funding round signals continued investor appetite for platforms that bridge blockchain innovation with traditional financial needs.