Crypto payments firm Mesh has raised $82 million in a Series B funding round to expand its blockchain-based settlement network globally.
The round, announced on Tuesday, was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
Notably, most of the investment was settled using PayPal’s PYUSD stablecoin, highlighting the growing role of stablecoins in financial transactions, according to the company’s press release.
Mesh Connects Crypto Wallets and Exchanges for Seamless Stablecoin Payments
Mesh operates a payments network that connects cryptocurrency wallets with exchanges and payment service providers, enabling merchants to accept crypto payments while settling in stablecoins.
Users can pay with major digital assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), while merchants can receive payments in stablecoins such as Circle’s USDC, PayPal’s PYUSD, and Ripple’s RLUSD.
Stablecoins have emerged as one of the fastest-growing sectors in the crypto industry, reaching a market capitalization of around $200 billion.
Their value is pegged to external assets—mainly the U.S. dollar—making them a crucial infrastructure component for digital asset trading, payments, savings, and remittances.
“Stablecoins present the single biggest opportunity to disrupt the payments industry since the invention of credit and debit cards, and Mesh is now first in line to scale that vision across the world,” said Bam Azizi, CEO and Co-Founder of Mesh.
“With this funding, we’re expanding the first truly global crypto payments network – one that allows users to pay with any crypto they hold while ensuring merchants can settle in the stablecoin of their choice, just like they do with fiat today.”
Venture capital firms are increasingly backing projects focused on stablecoin services and financial infrastructure.
The sector’s potential was further underscored by payments giant Stripe’s acquisition of stablecoin platform Bridge for $1.1 billion last year, signaling strong institutional interest in blockchain-based financial solutions.
Payment Firms Adopt Cryptocurrencies
In April, Fintech giant Stripe announced its decision to once again allow customers to accept cryptocurrency payments after a six-year break.
In 2014, Stripe dipped its toes into the world of cryptocurrency with tests involving Bitcoin, the pioneering digital currency.
However, in 2018, the company decided to halt its support for Bitcoin due to its volatility and lack of suitability as a means of exchange.
Aside from Stripe, other payment companies have also adopted stablecoins as a means of payment.
More recently, Singapore-based payments company Triple-A announced plans to integrate PayPal’s stablecoin into its list of supported tokens for customer payments.
As the first licensed crypto payments firm in Singapore, Triple-A aims to introduce support for PayPal’s stablecoin, PYUSD.
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