Coinbase, Sony and Samsung invest in Bastion, the "Turnkey" Stablecoin startup

#Bastion , a startup providing a turnkey stablecoin issuance system, has successfully raised 14.6 million USD, bringing the total capital raised to 40 million USD. This new funding round is led by Coinbase Ventures, alongside participation from tech giants and leading venture capital firms such as Sony, Samsung, a16z crypto, and Hashed.

Code-Free Stablecoin Solution

Bastion offers a solution that allows businesses to easily issue #stablecoin without the need to write code or directly deal with complex regulatory licensing processes. The platform also provides other convenient features, including wallets for users and off-ramp services (converting stablecoin to cash) in over 70 countries.

The person behind Bastion is Nassim Eddequiouaq, former leader of Meta (who was involved in the Libra project) and a16z crypto, who successfully raised 25 million USD for the company in 2023.

Exploding Stablecoin Market

This investment comes amid a global stablecoin market that is more dynamic than ever. Recent major moves include Stripe's acquisition of Bridge for 1.1 billion USD and the development of layer-1 Tempo; Circle (USDC) had an impressive IPO; and Tether (USDT) is looking to raise 20 billion USD with a valuation target of 500 billion USD. The involvement of large tech corporations shows an increasing recognition of the role of stablecoins as a core financial infrastructure layer in the future. #anh_ba_cong