PANews reported on September 24 that according to Fortune magazine, the stablecoin startup Bastion completed a new round of financing of US$14.6 million led by Coinbase Ventures. Other investors in this round included the venture capital arm of Japanese technology giant Sony, the venture capital arm of South Korean mobile phone manufacturer Samsung, the cryptocurrency arm of venture capital firm Andreessen Horowitz (a16z), and cryptocurrency venture capital firm Hashed.

Bastion is a white-label stablecoin issuer. Instead of hiring lawyers to obtain regulatory approvals or software developers to write code, companies can hire Bastion to more easily launch their own stablecoins. Bastion's differentiated advantage lies in its comprehensive stablecoin service offering, including a cryptocurrency wallet for clients to hold their tokens and channels for converting stablecoins into cash in 70 countries, including the United States.