San Francisco-based crypto payment network, Mesh, announced that it has closed an $82 million Series B funding round, bringing its total amount raised to over $120 million. In an unprecedented move, the majority of the investments were settled using PayPal USD (PYUSD) stablecoin.

The funds will propel the company’s mission to develop the first global crypto payments network. According to Mesh, this capital will expedite product development and the enhancement of its APIs for numerous crypto and payment platforms.

🚨 ⚡ Breaking: I’m proud to share that @meshconnectapi has raised $82 million in Series B funding to build the first truly global #crypto #payments #network – making crypto as seamless as using traditional fiat currency. Most of the investments were closed with PayPal.

— Bam Azizi (@bamazizii) March 11, 2025

On the funding, Bam Azizi expressed: “Stablecoins present the single biggest opportunity to disrupt the payments industry since the invention of credit and debit cards, and Mesh is now first in line to scale that vision globally.”

Additionally, he stated, “With this funding, we’re on our way to expanding a global crypto payments network, empowering users to transact with various cryptocurrencies while allowing merchants to settle in their preferred stablecoin, just as with fiat today.”

Charlie Noyes, General Partner at Paradigm, noted, “We believe crypto and stablecoins will fundamentally transform payments. Mesh simplifies crypto transactions, making them as easy as credit card payments for both users and merchants while leveraging blockchain technology.”

On March 11, 2025, Mesh reported that the funding round was led by Paradigm, with participation from Consensys, the parent company of MetaMask, along with QuantumLight Capital (founded by Nik Storonsky), Yolo Investments, and others. Previously, Mesh had also secured investments from PayPal Ventures, Galaxy Ventures, and MoneyForward.

Mesh is poised to be a vital player in the transition toward a stablecoin-centric payment ecosystem, with stablecoins already accounting for over $200 billion in market capitalization and exceeding $27.6 trillion in transaction volume for 2024.

Key Takeaways

• Mesh aims to establish the first global crypto payments network with the newly secured $82 million funding.
• This funding marks a historic moment for both venture backing and stablecoin usage, primarily through PayPal USD.