Crypto payments network Mesh has successfully secured $82 million in its latest funding round.
In a recent announcement, Mesh revealed that it raised $82 million in its Series B funding round.
The financing was led by a prominent venture capital firm and attracted participation from several investors, bringing the platform’s total fundraising to $120 million.
This funding will be utilized to expand Mesh’s payment solutions globally, with a strong focus on accelerating the adoption of stablecoins.
Mesh aims to facilitate crypto payments and stablecoin settlements for merchants, enabling cryptocurrency holders to pay effortlessly with any crypto while providing merchants the advantage of faster stablecoin settlements.
Users will have the ability to make payments using Bitcoin (BTC), Ethereum (ETH), or Solana (SOL).
Mesh’s innovative technology will allow merchants to receive payments in stablecoins, such as PayPal USD (PYUSD). Payments will be automatically converted to the supported stablecoin.
“Stablecoins present the single biggest opportunity to disrupt the payments industry since the invention of credit and debit cards,” said the CEO of Mesh.
Launched in 2020, the crypto payments platform connects hundreds of exchanges, wallets, and financial service providers within the ecosystem.
Mesh has established significant partnerships, including collaborations with major entities in the crypto space.
Notably, the funding round primarily involved investments settled in PayPal USD, the U.S. dollar-pegged stablecoin, offering advantages such as instant settlement, transparency, and around-the-clock support.
Mesh has received previous backing through a PYUSD investment earlier this year.
