Binance to Lead $2 Billion Funding Round for Crypto Payments Company Mesh

TLDR

• Binance is reportedly set to lead a new funding round for Mesh, a crypto payments and settlement company
• The round could value Mesh at up to $2 billion, doubling its January 2026 valuation of $1 billion
• Mesh raised a $75 million Series C in January, led by Dragonfly Capital with backing from Paradigm and Coinbase Ventures
• Mesh builds infrastructure connecting wallets, exchanges, stablecoins, and fiat rails
• The deal has not been formally announced by Binance or Mesh

Binance is reportedly planning to lead a new funding round for Mesh, a crypto payments and settlement company, at a valuation of up to $2 billion. The deal was reported by Axios, citing people familiar with the matter.

The round has not been formally confirmed by either Binance or Mesh.

Mesh’s Rapid Valuation Growth

Mesh raised a $75 million Series C in January 2026 at a $1 billion valuation. That round was led by Dragonfly Capital, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.

If the new round closes near the reported $2 billion figure, the company would have doubled its valuation in roughly six months.

Mesh was formerly known as Front Finance. The company builds payment infrastructure that connects crypto wallets, exchanges, digital assets, and fiat currency systems.

Its model targets a common problem in crypto payments: a user may hold one asset, while a merchant or platform wants to receive a different asset or fiat currency. Mesh handles the conversion and settlement layer in between.

Stablecoin Demand Drives Investment

Growing interest in stablecoin infrastructure is pushing investors toward crypto settlement companies. Clearer regulation around stablecoins and growing tokenization activity in financial markets are cited as factors driving demand.

Banking Circle recently launched regulated stablecoin settlement services after receiving approval in Luxembourg. The bank now supports USDC, USDG, and its own EURI token for institutional fiat and crypto conversion.

Major U.S. banks are also backing a tokenized deposit network through the Clearing House, targeting a launch in early 2027. That system would allow banks to settle tokenized deposits around the clock within regulated banking channels.

Mesh sits at the center of this shift. It focuses on moving value between assets, wallets, and payment systems, which aligns directly with where institutional money is flowing.

The company has also expanded through partnerships. In 2024, Mesh partnered with Italian crypto wallet Conio, giving users access to multiple exchanges and withdrawal options through Mesh’s connection layer.

A Binance-led round would show that large exchanges view payment and settlement infrastructure as a core area for growth.

Investors have broadly moved beyond trading apps and token projects toward systems that support regulated payments, cross-border transfers, and asset settlement.

Mesh’s reported valuation reflects that shift. The deal, if confirmed, would place Mesh closer to the center of the stablecoin and tokenization space.

No closing date for the round has been reported.

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