The New York–based firm, Bastion, builds Stablecoin-as-a-Service stacks that let companies issue branded digital dollars without writing code or securing their own regulatory licenses.

Bastion’s toolkit spans issuance, reserve and liquidity management, custodial wallets, and fiat on- and off-ramps designed to drop into existing apps. Its product suite also includes wallets and cash off-ramps for conversions during settlement.

Bastion is vying for enterprise deals against incumbents such as Paxos and Agora, betting that a compliance-first wrapper and speed to market will win budgets. For instance, the firm was one of the bidders that bid for providing Hyperliquid with stablecoin infrastructure.

The company operates under a New York Department of Financial Services trust charter and says its off-ramp coverage reaches more than 70 countries, positioning it as a plug-and-play option for multinational rollouts.

“Bastion is growing to meet significant demand for regulated stablecoin infrastructure from some of the world’s largest enterprises,” said co-founder and CEO Nassim Eddequiouaq, who launched Bastion in 2022 with fellow a16z alum Riyaz Faizullabhoy.

Eddequiouaq added:

“The evolution of our financial system will continue to accelerate as digital assets and stablecoin adoption proliferates, and Bastion is positioned to help businesses build world-changing financial products.”

Coinbase’s Shan Aggarwal added that trustworthy rails are “the bedrock” for scalable digital asset products. The round adds strategic weight as traditional tech names wade deeper into crypto plumbing.

Backers include Sony Innovation Fund, Samsung Next, a16z crypto, and Hashed alongside Coinbase Ventures, a roster that gives Bastion distribution paths across consumer electronics, exchanges and developer ecosystems.

For customers, the pitch is straightforward: outsource the heavy lifting. Rather than stitching together compliance frameworks, custody, reserves and payments, firms can launch a branded dollar inside a wallet, marketplace, game or rewards program and cash out through built-in off-ramps.

That’s the sell as stablecoins seep into payouts, cross-border commerce and fintech tooling. Bastion has recently added senior leadership across revenue, treasury, legal, and risk, signaling a push into larger accounts and regulated markets.

With fresh capital and marquee logos on the cap table, the startup is angling to be the vendor Fortune-class clients call when they want stablecoins yesterday. Bastion isn’t alone at this stablecoin rodeo.

The market just ballooned to a hefty $294.755 billion this week, and rival outfits are itching to strap on their spurs. Plenty of firms are saddling up to help the next brand mint a digital dollar—how many will actually take the plunge is the real nail-biter.

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