Bastion (via Lazer Technologies)

Institutional stablecoin infrastructure

EIP-7702 smart accounts, Coinbase Prime custody, and the M0 yield-accruing stablecoin.

Context

Bastion runs an institutional stablecoin ecosystem — regulated entities mint, hold, and move a USD-backed stablecoin under custody, with compliance enforced both off-chain and at the protocol level. My engagement spanned three workstreams. For each: what the system does, what I contributed, and where that work runs in production today.

Stack & integrations

Solidity
Rust
Go
EIP-7702
EVM
Solana
Coinbase Prime
Fireblocks (MPC)
Sardine
TRM Labs
AWS Nitro Enclaves
Formance
Temporal

Product overview

At the product level, the platform lets an institution onboard, hold, and move a regulated stablecoin under custody — with AML and jurisdiction controls in the path of every transfer, and books that reconcile against the custodian.

Onboarding & accounts
KYC/KYB onboarding and the institutional account lifecycle — identities (individual or business) own accounts, accounts hold wallets.
Compliance gating
Identity and transaction screening, jurisdiction rules, and account freeze/unfreeze — applied before money moves.
Stablecoin issuance & movement
Mint, redeem, and transfer of a USD-backed stablecoin for regulated entities.
Custody
Self-custodied on-chain wallets and Coinbase Prime custody vaults, under one account model.
Ledger & reconciliation
Double-entry books reconciled continuously against the custodian’s balances.
Multi-chain
Settlement across EVM and Solana.

Engagements — what I contributed

Project 1

Account abstraction — EIP-7702 smart accounts

System & integrations: The institutional account-wallet layer: EVM-sponsored (gas-paid) transactions, batched custody operations, and policy-controlled execution at the account layer.
My contribution: I designed and implemented the migration and integration path from existing EOA accounts to EIP-7702 smart accounts.
In production today: Institutional accounts now run as EIP-7702 smart accounts — clients transact without holding gas, custody operations batch into single calls, and execution policy is enforced at the account layer.

Project 2

Coinbase Prime custody integration

System & integrations: Bastion’s account/custody infrastructure connected to Coinbase Prime custody vaults — wallet provisioning, transfer authorization, and reconciliation — all routed through the platform’s existing compliance gating (Sardine KYC/KYB, TRM Labs screening, jurisdiction, freeze/unfreeze). On the inflow side, per-user smart-contract deposit wallets collect funds and auto-sweep them into Coinbase Prime across EVM and Solana. Custody is layered and never interchangeable: Fireblocks MPC vaults secure the stablecoin’s protocol-authority keys (mint, upgrade, freeze/seize), an in-house AWS Nitro-enclave signer holds the app wallets, and Coinbase Prime is the qualified custodian for client funds.
My contribution: I contributed to the end-to-end integration of Coinbase Prime: provisioning the vault mapping, the compliance-gated transfer-authorization flow, and the reconciliation between Bastion’s ledger and Prime balances, plus the deposit-collection layer (per-user deposit wallets auto-swept into Prime, multi-chain, with per-customer freeze controls). Wiring Prime correctly meant understanding the whole custody model — how Fireblocks governs the stablecoin’s protocol-authority keys and how the in-house enclave signer holds the app wallets — so deposit, withdrawal, and redemption flows compose cleanly across the three layers.
In production today: Institutional clients custody assets in Coinbase Prime through Bastion today — every outbound transfer is compliance-gated, and balances are continuously reconciled against the custodian.

Project 3

M0 yield-accruing stablecoin — R&D

System & integrations: R&D on the M0 protocol framework for corporate-treasury clients: a yield-accruing, non-rebasing, USD-backed stablecoin.
My contribution: I delivered the smart contracts — permissioned (whitelist-only) access controls and tiered fee economics across six client segments (0–15%) for institutional segmentation.
In production today: The contracts model how corporate-treasury clients are segmented and how yield and fees accrue across those tiers — the framework this workstream set out to prove.

Why it’s built this way (client lens)

Qualified custody, not vendor lock-in: keeping the ledger and compliance in Bastion while custody sits in Coinbase Prime means the custodian can be swapped without re-architecting.
AML enforced, not just monitored: a non-compliant transfer is rejected and the account frozen — policy sits in the execution path, not a dashboard after the fact.
Separation of duties in custody: account keys live only inside a hardware-isolated enclave, so the component that can sign is isolated from the rest of the platform.
Auditability by construction: double-entry books reconciled against the custodian give the regulator a provable, continuously-checked balance.