PayPal Ventures has invested $5 million in Mesh, a crypto payments startup, using its stablecoin, PYUSD, marking the first deployment of PYUSD for investment since its launch last summer. The on-chain transfer of funds was facilitated through Mesh's APIs. This strategic move follows Mesh's successful $22 million Series A funding round, supported by new investors like Money Forward, Galaxy, and Samsung Next.
Mesh specializes in embedded finance solutions, enabling businesses to seamlessly integrate crypto transfers and payments directly into their existing platforms. This eliminates the need for users to navigate between multiple platforms for their financial transactions. Originally founded in 2020 as an account aggregation platform, Mesh has expanded to encompass over 300 integrations with various exchanges, wallets, and brokerages.
Bam Azizi, Mesh's CEO, expresses enthusiasm about the backing from PayPal Ventures and underscores their vision of becoming the pivotal connection layer for a broad spectrum of crypto platforms and financial service providers.
FinExtra