Mesh Secures $82 Million In Funding: Payment Made In PayPal USD Stablecoin

Mesh, a San Francisco-based crypto payment network, has announced the closing of an $82 million Series B funding round, bringing its total amount raised to over $120 million. This funding round is significant as most of the investments were settled with PayPal USD (PYUSD) stablecoin, marking a historical precedent for stablecoin funding.

The company aims to build the first global crypto payments network with this funding, accelerating product development and expanding its APIs to power numerous crypto and payments platforms. The use of stablecoins for VC funding offers benefits such as instant settlement, cost-effectiveness, transparency, and availability around the clock.

Key investors in Mesh’s Series B funding round include Paradigm, Consensys (parent company of MetaMask), QuantumLight Capital (founded by Revolut CEO Nik Storonsky), Yolo Investments, and others. Partnerships with companies like MetaMask, Shift4, and Revolut further solidify Mesh’s position in the global payments industry.

As stablecoins continue to gain traction in the market, with a market cap exceeding $200 billion and transaction volume surpassing $27.6 trillion in 2024, Mesh is poised to play a crucial role in shaping the future of payments within a stablecoin-dominated ecosystem.

Overall, Mesh’s successful fundraising efforts and strategic partnerships position it as a key player in revolutionizing the way cryptocurrencies are used for everyday transactions globally.