Mesh Secures $82M for Global Expansion

Crypto payments firm Mesh has successfully raised $82 million in a series B funding round to bolster its efforts to expand its stablecoin-based payment settlement network globally. Led by Paradigm, the round saw participation from several prominent investors, including ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital. The majority of the raised capital was settled using PayPal's PYUSD stablecoin. Mesh operates a payments network built on blockchain technology, which connects crypto wallets to exchanges and payment services for merchants. This allows consumers to conduct transactions using various cryptocurrencies such as bitcoin (BTC), ether (ETH), and Solana's SOL, while merchants receive stablecoin settlements. CEO and co-founder of Mesh, Bam Azizi, cited the growing regulatory clarity and institutional interest in stablecoins as pivotal motivators for the expansion. Stablecoins, which constitute a $200 billion asset class, serve as essential infrastructure for digital asset trading and are becoming popular for payments, savings, and remittances due to their alignment with the U.S. dollar. The global appeal of stablecoins is propelling investment firms to increasingly support ventures focusing on these assets, as evidenced by significant merger and acquisition activity in this space, highlighted by Stripe's $1.1 billion acquisition of stablecoin platform Bridge. Mesh aims to simplify crypto payments and drive them towards becoming as seamless as credit card transactions.