Mesh Secures $82 Million to Expand Global Stablecoin Payment Network

On Tuesday, crypto payments firm Mesh announced an $82 million Series B funding round, led by Paradigm, to expand its stablecoin-based payment settlement network globally. The funding round included participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna and AltaIR Capital. A significant portion of the capital raise was settled in PayPal's PYUSD stablecoin. Mesh's network allows users to pay with cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Solana (SOL), while merchants receive settlement in stablecoins such as USDC, PYUSD, and RLUSD. Mesh CEO Bam Azizi noted the growth of stablecoins into a $200 billion asset class and their increasing popularity for payments, savings, and remittances. This investment highlights the growing interest in stablecoin infrastructure, underscored by Stripe's $1.1 billion acquisition of Bridge last year.