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Mesh, a leading provider of embedded financial solutions, recently announced a strategic investment from PayPal Ventures.
The investment was primarily made using PayPal USD (PYUSD), PayPal’s USD-denominated stablecoin, and is groundbreaking as the first time PYUSD has been used as a financing vehicle for an investment in PayPal Ventures. It became an event. This innovative investment approach highlights the evolving landscape of digital finance, with PYUSD providing a stable and secure trading medium.
Founded in 2020, Mesh is at the forefront of the revolution in the digital payments space. The company offers a comprehensive suite of services that enable seamless digital asset transfers, account aggregation, and cryptocurrency payments. With over 300 integrations across a variety of exchanges, wallets, and brokerages, Mesh is dedicated to providing a connected, open, and secure financial ecosystem for businesses and consumers.
The recent investment from PayPal Ventures follows Mesh’s successful $22 million Series A funding round with participation from notable investors including Money Forward, Inc., Galaxy, and Samsung Next. This continued financial support is evidence of Mesh’s innovative approach and potential to reshape the financial services landscape.
In light of this investment, Mesh co-founder and CEO Bam Azizi expressed his enthusiasm for the partnership, highlighting PayPal’s influential role in the payments industry and their shared vision for the future of finance. He said, “We are excited to have the support of PayPal Ventures as we execute on our vision of becoming the connectivity layer for a critical mass of crypto platforms and financial service providers.
“PayPal has an impressive track record of advancing the payments industry, so it’s no surprise that they are at the forefront of stablecoin innovation and share our vision for the future of the industry.”
PayPal Ventures Partner Amman Bhasin also commented on the investment, highlighting Mesh’s technology’s transformative potential and alignment with the future of financial services. “As the world of financial services undergoes rapid transformation, user ownership and asset portability will become critical components of product innovation, and we believe that cryptocurrencies can serve as the first beachhead to enable this,” said Bhasin. “
“Mesh’s commitment to these principles and its innovative technology make it a clear leader in this dynamic landscape. I am confident that it will make a significant contribution to the advancement of coins.”
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