{"id":13677,"date":"2023-09-19T13:02:25","date_gmt":"2023-09-19T13:02:25","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/bastion-co-founded-by-former-a16z-crypto-leaders-raises-25m-to-drive-web3-adoption\/"},"modified":"2023-09-19T13:02:26","modified_gmt":"2023-09-19T13:02:26","slug":"bastion-co-founded-by-former-a16z-crypto-leaders-raises-25m-to-drive-web3-adoption","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=13677","title":{"rendered":"Bastion, Co-Founded by Former a16z Crypto Leaders, Raises $25M to Drive Web3 Adoption"},"content":{"rendered":"<div>\n<p>Crypto startup Bastion has raised $25 million in a funding round led by venture giant Andreessen Horowitz\u2019s crypto arm, a16z crypto.<\/p>\n<p>Also joining the round was several prominent venture capital firms like Nomura\u2019s Laser Digital, Alchemy, Robot Ventures, crypto influencer Packy McCormick\u2019s Not Boring Capital, and others, the firm announced in a thread on social media platform X on Monday.<\/p>\n<figure class=\"media\"><oembed data-embedo-height=\"400\" data-embedo-url=\"https:\/\/twitter.com\/BastionPlatform\/status\/1703801858534539689\" loading=\"lazy\"><\/oembed><\/figure>\n<p>Notably, the startup has also gotten Stanford professor Dan Boneh and David Marcus, the former head of Facebook\u2019s Libra stablecoin project, on board as advisors.<\/p>\n<p>In addition to having prominent firms backing it, Bastion\u2019s two co-founders, Nassim Eddequiouaq and Riyaz Faizullabhoy, are also considered heavyweights in the crypto industry, with experience from crypto bank Anchorage Digital and later from senior positions at a16z crypto.<\/p>\n<h2>A \u2018holistic\u2019 crypto platform<\/h2>\n<p>Sharing more details about the new project on X, Bastion\u2019s Faizullabhoy said the focus has been on building a \u201cholistic platform\u201d for Web3 that is \u201cmore than just a wallet.\u201d<\/p>\n<p>\u201cSo we built Bastion, a web3 orchestrator that enables organizations to offer the next generation of on-chain and off-chain products,\u201d Faizullabhoy, who is a former chief technology officer (CTO) at venture firm a16z Crypto, said.<\/p>\n<figure class=\"media\"><oembed data-embedo-height=\"400\" data-embedo-url=\"https:\/\/twitter.com\/riyazdf\/status\/1703803105920561183\" loading=\"lazy\"><\/oembed><\/figure>\n<p>Bastion will from the beginning be a comprehensive crypto suite that offers a custodial wallet API solution, smart transaction routing, as well as a user analytics and insights dashboard.<\/p>\n<h2>Making Web3 safe and accessible for all industries<\/h2>\n<p>Commenting on the investment in Bastion, Andreessen Horowitz general partner Arianna Simpson wrote in a blog post that Bastion \u201chelps companies seamlessly integrate web3 infrastructure into enterprise technologies through a compliant, white-label platform.\u201d<\/p>\n<p>\u201cWe believe in Nass and Riyaz\u2019s vision of making web3 safe and accessible for companies in every industry and are extremely excited to support them in making it a reality,\u201d the a16z general partner added.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/bastion-co-founded-by-former-a16z-crypto-leaders-raises-25m-to-drive-web3-adoption.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto startup Bastion has raised $25 million in a funding round led by venture giant Andreessen Horowitz\u2019s crypto arm, a16z crypto. Also joining the round was several prominent venture capital firms like Nomura\u2019s Laser Digital, Alchemy, Robot Ventures, crypto influencer Packy McCormick\u2019s Not Boring Capital, and others, the firm announced in a thread on social [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-13677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bastion, Co-Founded by Former a16z Crypto Leaders, Raises $25M to Drive Web3 Adoption | Prosfunds<\/title>\n<meta name=\"description\" content=\"Crypto startup Bastion has raised $25 million in a funding round led by venture giant 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