Crypto Payments Firm Mesh Raises $82M to Expand its Stablecoin Network

Mesh, a crypto payments firm, announced a substantial $82 million Series B funding round to expand its global stablecoin-based payments settlement network.

Paradigm led the round, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital. The majority of the funding was received in PayPal’s PYUSD stablecoin.

Mesh Expands Stablecoin Network

Mesh’s blockchain-based payments network connects crypto wallets, exchanges, and merchant payment service providers. Users can pay with various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Solana’s SOL, while merchants receive payments in stablecoins like Circle’s USDC, PayPal’s PYUSD, and Ripple’s RLUSD.

“Regulatory clarity is taking shape, institutions are leaning in, and stablecoins are booming, Bam Azizi, CEO and co-founder of Mesh said in a LinkedIn post on Tuesday. “With this capital, we’re expanding globally to making crypto payments as easy as using a credit card.”

The rapid growth of stablecoins, now a $200 billion asset class, reflects their increasing importance in digital asset trading. Their price stability, typically pegged to the US dollar, makes them vital infrastructure for digital asset markets.

Moreover, they also offer a cheaper, faster alternative to traditional banking for payments, savings, and remittances, particularly in developing nations.

This growth has attracted significant venture capital investment. Felix Hartmann, founder and managing partner at Hartmann Capital, highlighted stablecoins, along with tokenized financial assets, as key drivers of future digital asset adoption. Stripe’s $1.1 billion acquisition of Bridge, a stablecoin platform, further solidified the sector’s potential in the global payments landscape.

Braza Group Launch BBRL Stablecoin

In February, Braza Group will launch BBRL, a Brazilian Real-backed stablecoin on the XRP Ledger (XRPL). This stablecoin will enable secure and affordable digital transactions throughout Brazil and South America.

This initiative gained significant momentum following Brazil’s approval of its first XRP ETF, a move anticipated to increase XRP adoption. Leveraging over 15 years of experience and its position as the sixth largest participant in BACEN’s interbank market, Braza Group has meticulously developed BBRL to combine the stability of fiat currency with the benefits of blockchain technology.

CEO Marcelo Sacomori highlights BBRL’s dual purpose: enhancing transaction security and promoting financial inclusion and business innovation. He emphasizes the stablecoin’s commitment to rigorous compliance and security standards, stating, “BBRL will allow Brazilians and businesses to mitigate market volatility while optimizing their financial operations.”