Crypto payments network Mesh has raised more funding from major investors, including PayPal Ventures, Coinbase Ventures, Uphold, ByBit’s Mirana Ventures, SBI Investment, and others.
As per the press release, the total funds raised amount to over $130 million, which the company will use to grow its role in the global payments market.
Mesh’s technology already powers PayPal’s “Pay with Crypto” feature, letting customers pay with over 100 wallets and cryptocurrencies. Through its SmartFunding engine, Mesh can instantly convert crypto into stablecoins, so merchants can get paid in the currency they prefer, without extra steps or delays.
Most of the latest funding was sent using PayPal USD (PYUSD), PayPal’s own stablecoin, as a live example of how Mesh enables fast, secure, global transactions.
The network connects to big exchanges like Coinbase, Binance, ByBit, and OKX, reaching hundreds of millions of crypto users. The new funding will be used by Mesh to grow its APIs, add more products, and connect to additional payment platforms.
Bam Azizi, CEO and Co-Founder of Mesh, said the company makes it easy for people to use different wallets and exchanges by instantly converting their crypto into stablecoins for payments, funding, and settlement, without any extra hassle.
Amman Bhasin, Partner at PayPal Ventures, said they’re increasing their investment because Mesh has proven it can deliver the security, compliance, and scale needed for mainstream crypto payments.
Mesh’s SmartFunding technology lets people pay with any cryptocurrency while merchants instantly get stablecoins like PYUSD or regular currency. This eliminates the usual problem wherein customers and merchants each have different preferred assets, allowing for seamless checkout.
Mesh is helping unlock liquidity with stablecoins worth over $200 billion handling $27.6 trillion in transactions. The vision for the company is a future where anyone can pay with any asset, anywhere, anytime.anytime.