Coinbase, Sony and Samsung back stablecoin startup Bastion in $14.6M raise

Coinbase Ventures led a $14.6 million round for Bastion, a startup providing white-label stablecoin issuance with backing from Sony, Samsung, A16z and others.

Stablecoin infrastructure startup Bastion has raised $14.6 million in a funding round led by Coinbase Ventures, the company said Wednesday.

According to a Wednesday announcement, the round also saw the participation of Japanese tech giant Sony, the investment subsidiary of South Korean phone maker Samsung, the crypto arm of venture capital (VC) firm Andreessen Horowitz and crypto VC firm Hashed.

Bastion is developing a platform that allows companies to issue stablecoins without securing their own licenses or building custom infrastructure.

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