PayPal Ventures makes stablecoin investment in Mesh

paypal ventures We invested in Mesh, an embedded financial platform for cryptocurrency transfers and payments.

According to a Monday (January 29) press release, the funding will be raised almost entirely in PayPal USD, marking the first time PayPal Ventures has used PayPal’s internal stablecoin in an investment. (Amount not shown).

Founded in 2020, Mesh helps businesses integrate cryptocurrency transfers and payments directly into their platforms, saving users the hassle of switching between platforms.

Amman Bhasin, Partner at PayPal Ventures, said: “As the world of financial services undergoes rapid transformation, user ownership and asset portability will become critical components of product innovation, and cryptocurrencies are the first to enable this. I believe that it will function as a beachhead for the said in a release. “Mesh’s commitment to these principles and its innovative technology make it a clear leader in this dynamic landscape.”

This new funding follows Mesh’s $22 million Series A round in September.

Bam Azizi, CEO and co-founder of Mesh, said at the time: “We are witnessing a significant shift in consumers demanding full and transparent control over their assets and expecting the financial services they use to provide that control. ” “Embedded finance will represent a $7 trillion market opportunity. Mesh is at the forefront of this transformation for both sides of the market, playing a pivotal role in ensuring that all digital transactions are embedded, secure and compliant. We are in a good position to fulfill our mission.”

Meanwhile, the PYMNTS Intelligence study “Embedded Financial Ecosystem: Software Publishing Edition” examined the evolving role of embedded finance in the software creator and publisher space.

Luke LathamAirwallex’s Australia and New Zealand general manager said in an interview with PYMNTS last month that marketplaces are well-equipped to embed financial services and products into the user experience thanks to their close relationships with customers. Told.

“If you think about e-commerce markets that are interested in providing credit and loans to their customers, they already have visibility into all their payment flows, so they have a leading role in the next stage of the evolution of embedded finance. We are in a position to fulfill our mission,” Latham said. he said at the time.