Bastion

Stablecoin Infrastructurebastion.com

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 industry: PRIMARYFSADADAE
Mint/Redeem, Issuance APIs & Treasury Operations Platforms
Financial & Insurance/Crypto & Digital Assets/Stablecoins & Tokenized Fiat (Issuance & Infrastructure)
SECONDARYFSADADAD
Reserve Management, Custody & Segregated Accounts (Backing Infrastructure)
Financial & Insurance/Crypto & Digital Assets/Stablecoins & Tokenized Fiat (Issuance & Infrastructure)
SECONDARYFSADADAI
Compliance, Attestations, Proof-of-Reserves & Reporting (Stablecoins)
Financial & Insurance/Crypto & Digital Assets/Stablecoins & Tokenized Fiat (Issuance & Infrastructure)
SECONDARYBPAMAFAL
Crypto Payments & Stablecoin Settlement Platforms
Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms
SECONDARYFSADADAF
Stablecoin Payment Rails & Settlement Networks (Issuer-Led)
Financial & Insurance/Crypto & Digital Assets/Stablecoins & Tokenized Fiat (Issuance & Infrastructure)
SECONDARYFSAPAIAJ
Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails)
Financial & Insurance/Blockchain & Web3/Enterprise Blockchain & Tokenization (permissioned networks, RWA tokenization)

Keywords

Stablecoin infrastructure
Digital asset custody
Enterprise blockchain
Stablecoin issuance
Cross-border payments

Where Bastion is headquartered

Location

Headquarters

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 offering

Core 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 profile

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Bastion technology and API

Technology

Technology 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 signal

Partnerships

Two partnerships are on record, tiered flagship and core.

Sony BankflagshipStrategic or Co-development Partner · 2 December 2025Sony 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 CompanycoreStrategic or Co-development PartnerBastion 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 assessment

Market position

Strengths4 records

Competitive moat5 records

Key highlights6 records

Customer concentration

Bastion compliance and trust

Trust signal

Compliance2 records

Bastion financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Bastion leadership team

Management profile

Number of profiles

Profiles4 records

Bastion subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Bastion funding detail

Funding detail

Funding 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 investment

M&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?

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.