Leading financial entities PayPal, Coinbase, and SBI have collectively invested over $130 million in the cryptocurrency payments startup, Mesh, as part of a funding round.
In a significant move for the crypto payments industry, Mesh, a leading crypto payments infrastructure company, has announced that it has raised additional funding, bringing its total funding to over $130 million.
This new funding will enable Mesh to expand its API offerings and accelerate product development, further strengthening its position in the market. The company's technology is playing a key role in PayPal's recently launched Pay with Crypto service, demonstrating its practical application for institutional transactions.
Mesh's SmartFunding technology addresses a fundamental friction in crypto commerce by solving the common mismatch where consumers hold different cryptocurrencies than what merchants prefer to accept. This technology allows users to pay with any digital asset while merchants receive instant settlement in stablecoins or fiat currency.
The infrastructure layer provided by Mesh is increasingly valuable for enterprises seeking to tap into crypto liquidity. Stablecoins, which are processing $27.6 trillion in annual transaction volume and maintaining a $200 billion market cap, are a testament to this growing demand.
PayPal Ventures partner Amman Bhasin has praised Mesh's technology for its security, compliance, and scalability, suggesting it meets the demands of enterprises as cryptocurrency payments move toward mainstream adoption.
The funding round included investments from PayPal Ventures, Coinbase Ventures, Uphold, Mirana Ventures, SBI Investment, and several other strategic investors. This service enables consumers to pay merchants using over 100 different cryptocurrencies and wallets.
With this integration, PayPal's merchant network now has access to a $3 trillion crypto market encompassing 650 million users globally. Mesh has also integrated with major exchanges including Coinbase, Binance, ByBit, and OKX, potentially reaching hundreds of millions of users.
Despite the absence of explicit information about the CEO and co-founder of Mesh, the success of the company and its technology speaks for itself. This funding round is a clear indication of the potential and practical application of Mesh's technology in the rapidly evolving crypto payments landscape.
