Bastion, a new arrival in the crypto landscape, has announced its visibility following a $25 million seed investment spearheaded by a16z Crypto, according to reports.
In Brief
Bastion has successfully raised $25 million in its seed round, with a major investment from a16z Crypto, showcasing the growing interest in innovative crypto solutions.
The founders of Bastion, Riyaz Faizullabhoy and Nassim Eddequiouaq, bring a wealth of experience from their previous roles at a16z Crypto, where Faizullabhoy served as CTO and Eddequiouaq as Chief Security Officer.
To navigate the increasingly complex regulatory landscape, Bastion has strengthened its team by hiring seasoned compliance experts from Kraken.
Crypto startup Bastion According to Bloomberg, Bastion has raised $25 million in seed funding, led by a16z Crypto, with backing from key players like Nomura Group's Laser Digital Ventures, Robot Ventures, and Not Boring Capital, associated with crypto influencer Packy McCormick.
Co-founders Riyaz Faizullabhoy and Nassim Eddequiouaq have a rich history at a16z Crypto, where Faizullabhoy was the Chief Technology Officer and Eddequiouaq held the position of Chief Security Officer.
Bastion’s mission is to establish a robust Web3 infrastructure, enabling Web2 businesses to create Web3 experiences. They claim to facilitate efficient transactions that mirror Web2’s speed while exploring innovative growth opportunities.
Furthermore, Bastion offers extensive analytical tools that merge both on-chain and off-chain data, providing Web2 platforms with deep insights into their user demographics.
The platform includes a custodial blockchain wallet API along with an intelligent transaction routing system. The company emphasizes that this system can intelligently decide when to leverage blockchain technology, ensuring swift interactions without sacrificing user experience.
"Any organization, regardless of size or customer base, can effortlessly incorporate Web3 infrastructure into their existing systems with our compliant white-label platform, which features custodial wallets, smart transaction routing, and powerful analytics,\" noted Bastion's leadership. LinkedIn bio states.
Despite the current downturn in the crypto market, Faizullabhoy conveyed to Bloomberg that the sector is enduring and will persist. The founders of Bastion believe there continues to be significant interest from companies in industries like fashion, education, and social media to integrate into the Web3 ecosystem.
Amid increased regulatory focus on the crypto sector, Eddequiouaq shared that the company's first recruit, a former Chief of Staff and Regulatory Strategy Counsel at Kraken, is set to guide Bastion through the intricate regulatory environment. Caroline Friedman It's crucial to recognize that the information on this page should not be construed as legal, investment, or financial advice. Always invest what you can afford to lose and seek professional guidance when needed. For more details, refer to the issuer's terms and conditions and support resources. MetaversePost aims to deliver precise and objective reporting, although market dynamics can shift unexpectedly.
Cindy, a journalist with Metaverse Post, specializes in coverage related to Web3, NFTs, the metaverse, and AI, with a special focus on interviewing industry leaders. Having connected with over 30 high-level executives, she brings their insights to the forefront. Originally from Singapore, she is currently based in Tbilisi, Georgia, and possesses a Bachelor’s degree in Communications & Media Studies from the University of South Australia, with a decade-long background in journalism.
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