Crypto Payments Network Mesh Secures $82 Million in Funding
Mesh, a crypto payments network, has successfully raised $82 million in its Series B funding round. The round was led by venture capital firm Paradigm, with contributions from Consensys, QuantumLight Capital, and Yolo Investments. This brings Mesh’s total funding to $120 million.
The new funds will help Mesh expand its payment solutions globally. The company aims to make it easier for crypto users to pay with any cryptocurrency, while merchants benefit from faster stablecoin settlements. Such as, a user can pay with Bitcoin, Ethereum, or Solana, and the merchant receives the payment in a stablecoin like PayPal USD (PYUSD).
Mesh’s CEO, Bam Azizi, believes stablecoins offer a important possibility to revolutionize the payments industry. “Mesh is at the forefront of scaling this vision worldwide,” he said.
Founded in 2020, Mesh connects hundreds of exchanges, wallets, and financial services. It partners with MetaMask, Shift4, and Revolut. Notably,the funding round saw most investments settled in PYUSD,a U.S.dollar-pegged stablecoin backed by PayPal and issued by Paxos.
PayPal backed Mesh via a PYUSD investment in January 2024. This move highlights the growing acceptance of stablecoins in the crypto ecosystem.
