| Key Points:
– Crypto payments company Mesh raised $82 million in a Series B round led by Paradigm, with most funding settled in PayPal’s PYUSD stablecoin. |
Crypto payments company Mesh has secured $82 million in a Series B funding round led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
The majority of the investment was settled using PayPal’s PYUSD stablecoin with the growing role of stablecoins in digital asset transactions.
Crypto Payments Company Mesh Secures $82M in Series B Led by Paradigm
Mesh, which facilitates seamless crypto payments for merchants and consumers, aims to leverage the fresh capital to expand its global stablecoin-based settlement network.
The company enables users to pay with cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) while allowing merchants to receive payments in stablecoins like PYUSD, Circle’s USDC, and Ripple’s RLUSD. This approach removes the need for customers to convert assets before making a purchase, streamlining the payment process.
With this latest round, Mesh’s total funding has reached $120 million. CEO and Co-founder Bam Azizi emphasized the company’s mission to create a global crypto payments network that allows users to transact using any crypto asset while ensuring merchants can settle in the stablecoin of their choice.
“With this funding, we’re expanding the first truly global crypto payments network,” Azizi stated.
Paradigm General Partner Charlie Noyes highlighted that Mesh simplifies crypto transactions for both users and merchants while maintaining the benefits of blockchain technology.
“We think crypto and stablecoins will be an enormous transformation to payments,” said Noyes.
Regulatory Support Boosts Crypto Payment Adoption
The innovation aligns with growing global adoption of stablecoins, which accounted for $27.6 trillion in trading, payments, and transfers last year, representing two-fifths of all value settled on public blockchains, according to a recent study conducted by the CEX.io.
In 2024, the total stablecoin transaction volume surpassed the total transaction volume of Visa and Mastercard in the same period by 7.68%.
Regulatory developments have also paved the way for broader stablecoin adoption. The U.S. Office of the Comptroller of the Currency (OCC) recently reaffirmed that national banks and federal savings associations can engage in certain crypto activities, including stablecoin issuance, provided they meet compliance requirements.
Crypto payments company Mesh has already integrated its payment solutions with platforms like MetaMask, Shift4, and Revolut, reaching over 400 million users across more than 100 countries.
With its proprietary SmartFunding technology, the company aims to further refine its infrastructure, drive broader adoption, and support a seamless crypto-to-stablecoin payment experience.
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