Summary
- Coinbase Ventures reportedly led a $14.6 million funding round for Bastion, a startup focused on stablecoin infrastructure.
- The round reportedly included major investors such as Sony Innovation Fund, a16z Crypto, Samsung Next, and Hashed.
- The newly raised funds are expected to be used to expand infrastructure supporting large-scale stablecoin use by companies and financial institutions.
On the 24th (local time), according to The Block, a media outlet specializing in virtual assets (cryptocurrencies), Coinbase Ventures led a $14.6 million funding round for Bastion, a startup aiming to build stablecoin infrastructure.
The round also saw participation from Sony Innovation Fund, a16z Crypto, Samsung Next, and Hashed. Bastion said it has raised more than $40 million in total, including this investment.
The newly raised funds will be used to expand infrastructure that enables companies and financial institutions to use stablecoins at scale in a secure, efficient, and regulatory-compliant manner.
Bastion launched in a $25 million seed round led by a16z Crypto in 2023, and at that time it focused on blockchain technology adoption and improving Web3 user onboarding processes.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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