Mesh, the leading crypto payments network, today announced additional investments from PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures (venture partner for ByBit), SBI Investment, Overlook Ventures, Kingsway Capital, Moderne Ventures and CE-Ventures, bringing total capital funding to more than $130 million. This support positions the company to accelerate its impact on the global payments industry.
Mesh’s technology supported the launch of PayPal’s Pay with Crypto service, which allows consumers to pay with a wide range of cryptocurrencies and eligible wallets. Mesh’s technology enables consumers to seamlessly pay using 100+ wallets and cryptocurrencies through Mesh’s SmartFunding orchestration engine. This allows PayPal merchants to tap into a rapidly growing $3 trillion market with over 650 million crypto users.
“Mesh is uniquely positioned to enable broad usability by streamlining access to wallets and exchanges and orchestrating real-time asset conversion to stablecoins, powering payments, funding and settlement with zero operational friction,” said Bam Azizi, CEO and Co-Founder of Mesh. “We’re building a bridge between users and merchants with a payments experience that people actually want, creating a world where anyone can pay with any asset, anytime.”
Most of the funds were settled with the PayPal USD (PYUSD) stablecoin. Mesh’s technology was used to instantly transfer the investment – proving firsthand the power and security of stablecoins for global transactions.
With integrations across Coinbase, Binance, ByBit, OKX, and more, Mesh’s technology already reaches hundreds of millions of users. This new funding will accelerate its expansion across the global payments industry, scaling APIs, expanding product development, and powering hundreds of crypto and payments platforms. All of this will continue to position the company for dominance in crypto payments as stablecoins drive the next wave of adoption.
“As crypto goes mainstream, Mesh is building the infrastructure layer that enables enterprises to embed crypto payments, transfers, and commerce experiences directly into their apps,” said Amman Bhasin, Partner, PayPal Ventures. “We’re strengthening our commitment because Mesh has shown they can deliver the security, compliance, and scalability that enterprises demand. We’re proud to back this outstanding team and pleased to be working with them in support of their vision for global crypto payments.”
Mesh’s SmartFunding technology eliminates friction in crypto payments, enabling users to pay with any digital asset while merchants receive instant settlement in stablecoins, such as PYUSD, or fiat. This innovative approach addresses the mismatch problem where users often hold different cryptocurrencies than what merchants prefer, ensuring a seamless checkout experience with the benefits of blockchain technology. With the stablecoin market having a market cap over $200 billion and powering $27.6 trillion in transaction volume, consumers and merchants want stable assets like stablecoins and local currency. Mesh is unlocking liquidity, making these assets fungible with its SmartFunding orchestration engine.
