PayPal uses stablecoin to invest in Mesh
This is the first time that PayPal Ventures has used PYUSD for an investment since the stablecoin's launch last summer. The funds were transferred on chain using Mesh’s APIs.
The investment comes on the heels of Mesh’s $22 million Series A funding round, backed by new investors including Money Forward, Galaxy, and Samsung Next.
Mesh helps businesses to integrate crypto transfers and payments directly into their existing platforms, eliminating the need for users to switch between platforms.
Established in 2020 as an account aggregation platform, the firm now has over 300 integrations with different exchanges, wallets and brokerages.
Bam Azizi, CEO, Mesh, says: “We’re thrilled to have the backing of PayPal Ventures as we execute against our vision of becoming the connection layer for a critical mass of crypto platforms and financial service providers.”
Learn more about payments at NextGen Nordics on the 23 April 2024.
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