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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.
Techub News reports that CoinShares has announced its intention to acquire London-based, FCA-regulated crypto-focused alternative investment management firm Bastion Asset Management Limited. This acquisition will significantly enhance CoinShares' active management capabilities, supporting its transformation into a comprehensive digital asset management platform. The acquisition is subject to approval by the UK Financial Conduct Authority. CoinShares plans to combine passive investment products with sophisticated active management strategies to provide investors with a complete solution spanning the entire digital asset investment landscape.
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