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6d ago

Mesh Raises More Than $130 Million With PYUSD-Settled Funding Round

The company plans to use the stablecoin-backed investment to expand its SmartFunding API to integrate with hundreds of payment platforms

Mesh funding tops $130m to expand crypto payment infrastructure
Mesh

Overview

  • The round attracted fresh commitments from PayPal Ventures, Coinbase Ventures and a syndicate of crypto and VC investors, contributing at least $10 million in new capital.
  • Most of the latest funding was transferred in PayPal USD through Mesh’s SmartFunding infrastructure as a real-world proof of instant stablecoin settlement.
  • SmartFunding’s orchestration engine supports over 100 cryptocurrencies and converts them into merchants’ preferred stablecoins or fiat currencies.
  • Mesh’s technology already powers PayPal’s “Pay with Crypto” feature and is integrated with wallets and exchanges such as Coinbase, Binance, ByBit and OKX.
  • Company leaders say the proceeds will speed product development while reinforcing the compliance and security standards demanded by enterprise partners.