Bastion
Bastion provides regulated stablecoin infrastructure enabling enterprises to issue, custody, move, and convert USD-backed stablecoins under its own licenses or the client's. It serves financial institutions, corporations, treasury teams, and platform businesses, with Sony Bank as flagship issuance customer.
- Company typePrivate
- Founded2023
- HeadquartersCampbell, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Bastion does
Bastion is a regulated stablecoin infrastructure platform founded in September 2023 by two former Andreessen Horowitz executives, headquartered in Campbell, California with primary US operations in New York. The company provides enterprise-grade infrastructure for issuing, custodying, moving, and converting USD-backed stablecoins, operating under its own New York Limited Purpose Trust Company charter (acquired via the February 2025 Dibbs Trust Company acquisition), MSB status, and money transmitter licenses across 30+ US jurisdictions. The platform targets financial institutions, global corporations, treasury teams, and platform/fintech businesses seeking stablecoin utility without becoming regulated financial entities themselves, with Sony Bank named as sole issuance provider for a USD-pegged stablecoin launching in 2026 to serve Sony Group's North American entertainment ecosystem.
The platform comprises three core products: Stablecoin Issuance (allowing enterprises to launch branded USD-backed stablecoins with flexible issuer models and reserve economics), Wallet Custody (MSB/MTL-licensed custodial wallets using Cloud HSM and AWS Nitro Enclave key management), and Payment Corridors (fiat-to-stablecoin and stablecoin-to-stablecoin conversions across 60+ countries with built-in compliance screening). Technical architecture integrates a policy engine across custody, orchestration, and settlement, with smart transaction routing and a single API integration providing access to all products. The platform reports 490 active wallets, $691M monthly payment corridor volume, 99.9% uptime, and 21% reserve growth. The company also acquired Dibbs Trust Company to extend into enterprise tokenization.
Bastion operates a direct enterprise sales model with quote-based pricing and multi-year contracts. The company has raised approximately $40 million across a $25M seed round (a16z crypto lead, September 2023) and a $14.6M strategic round (Coinbase Ventures lead, September 2025), with investors including Sony Innovation Fund, Samsung Next, Hashed, and a16z crypto. Revenue mechanics include infrastructure-as-a-service subscription fees, transaction-based revenue on payment corridors, and reserve economics on issued stablecoins under both Bastion-issued and client-licensed issuer models. The company employs 11-50 people across US operations.
Bastion firmographics
Firmographics- Name
- Bastion
- Legal name
- Bastion Platforms, Inc.
- Website
- https://bastion.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Bastion provides regulated stablecoin infrastructure enabling enterprises to issue, custody, move, and convert USD-backed stablecoins under its own licenses or the client's. It serves financial institutions, corporations, treasury teams, and platform businesses, with Sony Bank as flagship issuance customer.
- Ownership category
- akta.pro rank
Bastion industry classification
Industry- Product category
- Stablecoin Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE)
- akta.pro secondary industries
- Reserve Management, Custody & Segregated Accounts (Backing Infrastructure) (FSADADAD), Compliance, Attestations, Proof-of-Reserves & Reporting (Stablecoins) (FSADADAI), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)
Keywords
Where Bastion is headquartered
LocationHeadquarters
- HQ city
- Campbell
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Bastion business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Stablecoin Infrastructure-as-a-Service: Bastion provides enterprise-grade infrastructure for issuing, custodying, moving, and converting stablecoins. Enterprises pay for access to the platform to launch their own stablecoin programs, capture reserve economics, and power treasury, payments, and commerce use cases. The platform supports both Bastion-issued and client-licensed stablecoin models, providing flexibility in the issuer relationship and revenue structure.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise infrastructure platform — custom pricing |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Bastion product offering
Product offeringCore offering
Bastion provides a regulated, full-stack stablecoin infrastructure platform that enables enterprises to issue, custody, move, and convert USD-backed stablecoins through a single API. The platform operates under a New York Limited Purpose Trust Charter, MSB status, and 30+ state money transmitter licenses, and includes built-in compliance, custody, smart transaction routing, fiat-to-stablecoin and stablecoin-to-stablecoin conversion corridors across 60+ countries, and reserve management with T+1 redemption. Customers can deploy Bastion-issued or client-licensed models and use Bastion's infrastructure directly or white-label it under their own regulatory licenses.
Product overview
Bastion operates as a regulated stablecoin infrastructure platform comprising three core products: Stablecoin Issuance (for launching branded USD-backed stablecoins with flexible issuer models), Wallet Custody (providing secure custodial wallet solutions through MSB/MTL licenses with cloud HSM key management), and Payment Corridors (enabling fiat-stablecoin conversions across 60+ countries with built-in compliance screening). The platform also acquired Dibbs Trust to add enterprise-grade tokenization capabilities. All products share a unified API, compliance-first architecture, and access to banking and liquidity partners. The infrastructure is built on Bastion's New York Limited Purpose Trust Company charter and state money transmitter licenses.
Differentiator
Problem solved
Functional benefit
Products and services
- Stablecoin Issuance Enterprise product that enables institutions and corporations to launch branded USD-backed stablecoins under Bastion's compliance-first architecture. Supports Bastion-issued or client-licensed issuer models and includes institutional-grade security, key management, smart contract governance, banking integrations, compliance programs, and reporting. Designed for financial institutions, global corporations, and enterprises seeking bank-like economic upside from stablecoin reserves.
- Wallet Custody Custodial wallet solution provided through Bastion's MSB and Money Transmitter Licenses, enabling enterprises to offer secure wallets without building custody in-house. Features Cloud HSM and AWS Nitro Enclave-based key management with no single point of compromise and an integrated policy engine spanning custody, orchestration, and settlement. Reported 99.9% uptime and 490 active wallets.
- Payment Corridors Cross-border payment infrastructure enabling fiat-to-stablecoin and stablecoin-to-stablecoin conversions across 60+ countries with multi-currency support and built-in compliance and sanctions screening on every corridor. Reported $691M monthly volume, including US to APAC ($175M), EU to APAC ($132M), and EU to MENA ($124M) routes. Designed for treasury teams, multi-entity enterprises, cross-border payment providers, neobanks, and consumer fintechs.
- Dibbs Trust Enterprise-grade tokenization platform acquired by Bastion to add tokenization capabilities alongside its stablecoin issuance, custody, and payment corridor products. Operates under Bastion's regulatory umbrella following the acquisition.
Quantifiable outcome
- 99.9% uptime for wallet custody service
- +4 more outcomes
Companies that use Bastion
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Bastion technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration31 records
AI capability1 record
Feature5 records
Bastion partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and core.
- Sony BankflagshipSony Bank, a subsidiary of Sony Financial Group, partnered with Bastion as its sole issuance provider for stablecoin issuance, reserve management, and custody services targeting Sony Group companies in North America. The partnership involves Bastion managing USD-backed stablecoins for use across Sony's entertainment ecosystem including gaming (PlayStation), streaming, and anime platforms. Sony Bank applied for a US banking license in October 2025 to support issuance and regulatory oversight. Sony Bank plans to launch a USD-pegged stablecoin by 2026 to reduce payment processing costs and cross-border transaction delays, with US customers representing approximately 30% of Sony's external entertainment sales. Bastion participated in Sony Innovation Fund's investment in Bastion.
- Dibbs Trust CompanycoreBastion acquired Dibbs Trust Company, an enterprise-grade tokenization platform, from Dibbs Group in February 2025. Alongside the acquisition, Bastion obtained a New York Limited Purpose Trust Company charter from NYDFS, strengthening its regulatory foundation for compliant stablecoin issuance and tokenization services.
Scale indicators8 records
Recent moves7 records
Expansion highlights7 records
Bastion competitors and assessment
Company assessmentMarket position
Strengths4 records
Competitive moat5 records
Key highlights6 records
Customer concentration
Bastion social profiles
Digital presenceBastion compliance and trust
Trust signalCompliance2 records
Bastion financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bastion leadership team
Management profileNumber of profiles
Profiles4 records
Bastion subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bastion funding detail
Funding detailFunding overview
Funding rounds2 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bastion M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bastion
What does Bastion do?
Bastion provides a regulated, full-stack stablecoin infrastructure platform that enables enterprises to issue, custody, move, and convert USD-backed stablecoins through a single API. The platform operates under a New York Limited Purpose Trust Charter, MSB status, and 30+ state money transmitter licenses, and includes built-in compliance, custody, smart transaction routing, fiat-to-stablecoin and stablecoin-to-stablecoin conversion corridors across 60+ countries, and reserve management with T+1 redemption. Customers can deploy Bastion-issued or client-licensed models and use Bastion's infrastructure directly or white-label it under their own regulatory licenses.
Is Bastion a public or private company?
Bastion is a private company. It is classified as venture growth investor backed and is currently operating.
When was Bastion founded?
Bastion was founded in 2023. It employs 11 to 50 people.
Where is Bastion based?
Bastion is headquartered in Campbell, United States, in the North America region.
How does Bastion make money?
One revenue line is on record: stablecoin Infrastructure-as-a-Service.
Does Bastion have an API?
Yes. Single API providing access to all products including stablecoin issuance, wallet custody, and payment corridors. Built-in compliance checks, monitoring, and screening included. Direct connections to banking and liquidity partners. Flexible technical architecture that scales. Developer documentation is at docs.bastion.com/reference.
What industry is Bastion in?
Bastion's product category is Stablecoin Infrastructure. Its primary akta.pro industry code is FSADADAE, Mint/Redeem, Issuance APIs & Treasury Operations Platforms, with a secondary code of FSADADAD, Reserve Management, Custody & Segregated Accounts (Backing Infrastructure). Its NAICS code is 522320 and its SIC code is 6200.