- Crypto payments firm Mesh secured $82 million in Series B funding led by Paradigm, with most payments settled in Paypal‘s PYUSD stablecoin.
- Mesh’s platform connects crypto wallets with exchanges and payment service providers, allowing users to pay with various cryptocurrencies while merchants settle in stablecoins.
- The stablecoin sector has grown to a $200 billion asset class, attracting increased venture capital interest in related infrastructure.
Crypto payments infrastructure provider Mesh has raised $82 million in Series B funding to expand its stablecoin-based settlement network globally. The investment round, led by Paradigm, attracted participation from ConsenSys, QuantumLight, Yolo Investments, and several other venture capital firms, with most of the funding settled in PayPal’s PYUSD stablecoin.
The company focuses on building payment networks utilizing blockchain technology that bridge the gap between cryptocurrency wallets, exchanges, and merchant payment service providers. Mesh’s infrastructure allows consumers to make purchases using popular cryptocurrencies such as Bitcoin (BTC), ether (ETH), and Solana’s SOL, while giving merchants the flexibility to receive payments in stablecoins including Circle’s USDC, PayPal’s PYUSD, and Ripple‘s RLUSD.
“Regulatory clarity is taking shape, institutions are leaning in, and stablecoins are booming,” said Bam Azizi, CEO and cofounder of Mesh, in a LinkedIn post on Tuesday. “With this capital, we’re expanding globally to making crypto payments as easy as using a credit card.”
The funding comes at a time when stablecoins have emerged as one of the fastest-growing sectors within the cryptocurrency industry, developing into a $200 billion asset class. These digital currencies, typically pegged to the U.S. dollar, serve as critical infrastructure for crypto trading while increasingly becoming popular tools for payments, savings, and cross-border remittances—particularly in developing economies where they offer faster and more cost-effective alternatives to traditional banking services.
This rapid growth has captured the attention of venture capital firms, which are increasingly directing investments toward projects developing stablecoin services and infrastructure. Felix Hartmann, founder and managing partner at investment firm Hartmann Capital, identified stablecoins as “the big trade in crypto” in a Tuesday report, noting that alongside tokenized financial assets, they will drive the next wave of digital asset adoption.
The stablecoin market received significant validation last year when payments giant Stripe acquired stablecoin platform Bridge for $1.1 billion—a development widely seen as highlighting stablecoins’ transformative potential in the global payments ecosystem.
More details about Mesh’s funding round can be found in the company’s official press release.
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