BlockBeats News, September 24th, according to Fortune magazine, stablecoin startup Bastion announced the completion of a $14.6 million financing round, led by Coinbase Ventures, with participation from Sony’s venture arm, Samsung’s venture arm, a16z Crypto, and Hashed.
Bastion co-founder and CEO Nassim Eddequiouaq declined to provide specific details on the valuation of the startup raising new funds.
Reportedly, Bastion is a white-label stablecoin issuer that allows businesses to issue their own branded stablecoins without the need to hire lawyers for regulatory licensing or developers to write code, simply by using Bastion. The difference between Bastion and its competitors (including established player Paxos and emerging player Agora) lies in its comprehensive stablecoin service suite. This suite includes a crypto wallet for customers to hold the tokens and channels to convert the stablecoin into cash in 70 countries, including the United States.
