Mesh Secures $82 Million to Expand Global Stablecoin Payment Network
Mesh has raised $82 million in a Series B funding round to expand its stablecoin-based payments network globally. Key details include:
- The funding was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital.
- Most investments were made using PayPal's PYUSD stablecoin.
- Mesh connects crypto wallets with exchanges and payment service providers, allowing users to pay with assets like BTC, ETH, and SOL, while merchants can settle in stablecoins like Circle's USDC, PayPal's PYUSD, and Ripple's RLUSD.
- CEO Bam Azizi noted that regulatory clarity and the growth of stablecoins are driving expansion plans.
- Stablecoins have grown into a $200 billion asset class, serving as vital infrastructure for digital trading and increasingly used for payments and remittances, particularly in developing countries.
- Venture capital interest in stablecoin projects is rising; Felix Hartmann highlighted that stablecoins and tokenized financial assets will drive further adoption of digital assets.
- Stripe's acquisition of stablecoin platform Bridge for $1.1 billion signals the potential of stablecoins in global payments.