Mesh Raises $82M to Expand Global Stablecoin Payments Network

Mesh, a prominent crypto payments firm, has successfully raised $82 million in a Series B funding round. This significant investment is aimed at expanding Mesh's stablecoin-based payments settlement network on a global scale. The round was led by Paradigm, with notable participants including ConsenSys, QuantumLight, yolo Investments, Evolution vc, Hike Ventures, Opportuna, and AltaIR Capital. A substantial portion of the funds was settled using PayPal's PYUSD stablecoin, highlighting the growing adoption and trust in stablecoins within the financial ecosystem.

Mesh's innovative platform facilitates payments by connecting crypto wallets with exchanges and payment service providers for merchants. This integration allows users to pay with various crypto assets such as bitcoin (BTC), ether (ETH), and Solana's SOL, while merchants can settle payments in their preferred stablecoins, including Circle's USDC, PayPal's PYUSD, and Ripple's RLUSD. This flexibility and convenience make Mesh a compelling solution for both users and merchants in the crypto space.

Bam Azizi, CEO and co-founder of Mesh, emphasized the strategic importance of this funding round. "Regulatory clarity is taking shape, institutions are leaning in, and stablecoins are booming," Azizi stated in a LinkedIn post. "With this capital, we’re expanding globally to make crypto payments as easy as using a credit card." This vision underscores Mesh's commitment to simplifying crypto transactions and making them accessible to a broader audience.

Stablecoins have emerged as one of the fastest-growing sectors within the crypto industry, evolving into a $200 billion asset class. Their value, pegged to external assets like the U.S. dollar, makes them a crucial component of digital asset trading infrastructure. Beyond trading, stablecoins are increasingly used for payments, savings, and remittances, particularly in developing regions, where they offer a more efficient and cost-effective alternative to traditional banking methods.

The rapid growth of stablecoins has attracted significant investment from venture capital firms. Felix Hartmann, founder and general partner at Hartmann Capital, noted that stablecoins, along with tokenized financial assets, are poised to drive the next wave of growth in digital asset adoption. This sentiment is further validated by the acquisition of stablecoin platform Bridge by payments giant Stripe for $1.1 billion, underscoring the potential of stablecoins in the global payments landscape.