Stablecoin startup Bastion completes $14.6 million funding round, Coinbase Ventures leads investment

Techub News, according to Fortune, stablecoin startup Bastion has completed a new round of funding of $14.6 million, led by Coinbase Ventures. Participants included the venture capital arm of Japanese tech giant Sony, the venture capital arm of South Korean mobile phone manufacturer Samsung, a16z, and Hashed.

Bastion is a stablecoin issuer that enables companies to more easily launch their own branded stablecoins by hiring Bastion, instead of needing to hire lawyers to obtain regulatory approvals or software developers to write code. Bastion's differentiating advantage lies in its full suite of stablecoin services, which include a cryptocurrency wallet for customers to hold tokens, and channels to convert stablecoins into cash in over 70 countries, including the United States.