Coinbase Ventures has announced a significant investment of $14.6 million in Bastion, a startup focused on enabling the issuance of white-label stablecoins. This funding round, revealed on Wednesday, has also seen participation from notable venture arms including those of Sony and Samsung, as well as Andreessen Horowitz’s dedicated crypto fund and Hashed.
Bastion, which was established in 2022 by former Andreessen Horowitz executives Nassim Eddequiouaq and Riyaz Faizullabhoy, offers a platform for companies to launch their own branded stablecoins without the need to obtain regulatory licenses or build out technical infrastructure. Eddequiouaq is currently serving as CEO, while Faizullabhoy has since departed the organization.
Earlier this year, Bastion secured $25 million in a seed funding round and has since grown its team to 27 employees. The startup provides a range of services, including wallet infrastructure and fiat off-ramps available in 70 countries. According to Eddequiouaq, these services were developed to address issues identified during the now-defunct Libra project initiated by Meta.
The latest investment comes as interest in stablecoins continues to rise. They are increasingly being integrated into mainstream payments and settlement systems. Notable developments in the sector include Stripe’s acquisition of stablecoin startup Bridge for $1.1 billion in February 2025, Circle’s public listing in June, and new legislation regarding stablecoin issuance signed by President Donald Trump in July.
Recent data from Blockworks Research indicates that total fundraising volumes in the cryptocurrency space have surged, reaching their highest levels since early 2022, with a notable focus on finance and infrastructure projects. Over the past 90 days, Coinbase Ventures has emerged as a leading investor in terms of deal count.
This story is still evolving, reflecting the dynamic landscape of the cryptocurrency industry.
