PayPal and Coinbase Back Mesh with $10M Funding Push

In a significant development reflecting growing institutional interest in crypto infrastructure, Mesh, a leading firm specializing in crypto payments, has secured new funding from major players including PayPal Ventures and Coinbase Ventures. This new capital injection brings Mesh’s total funding to over $130 million, with the latest round believed to be at least $10 million [1]. The funding follows a $82 million Series B round led by Paradigm in just five months, highlighting rapid and sustained investor confidence in the company [1].

Mesh’s role in bridging traditional finance and the crypto ecosystem has been underscored by its partnership with PayPal, where it powers the “Pay with Crypto” feature, allowing users to transact using digital assets [1]. The firm has also leveraged stablecoins, including PayPal’s PYUSD, for settlement purposes in its funding rounds, demonstrating a practical application of stablecoin technology in financial operations [1]. These developments reinforce the company's position as a key enabler of crypto integration into everyday financial systems.

The involvement of PayPal and Coinbase is not merely financial but strategic, as both entities are keen to expand their own digital currency offerings and infrastructure [1]. By backing Mesh, they are aligning with a firm that is actively developing the tools necessary to scale the adoption of stablecoin-based payments. Mesh’s infrastructure is designed to streamline cross-border transactions, reduce costs, and improve the efficiency of digital money transfers [1].

With the latest influx of capital, Mesh plans to expand its stablecoin-based payment stack and integration capabilities [1]. This expansion aims to increase the accessibility of digital payments for both consumers and businesses, moving the industry closer to a future where using stablecoins is as seamless as using credit cards [1]. The firm’s focus on stablecoins is particularly strategic given their advantages in speed, transparency, and reduced volatility compared to other cryptocurrencies [1].

The broader implications of this funding round suggest a maturing market in which established players are investing in infrastructure to support the mainstream adoption of digital assets. The strategic alignment between Mesh and its investors indicates a shared vision of integrating crypto into the fabric of global finance. As Mesh continues to develop and refine its payment solutions, it is likely to play a pivotal role in shaping the future of digital transactions [1].

Source: [1] Mesh Funding Soars: PayPal & Coinbase Back Crypto Payments Firm (https://coinmarketcap.com/community/articles/689dda46cd503f0cdaa2273f/)