Key Notes
- Dragonfly Capital leads $75 million Series C round with backing from Paradigm, Coinbase Ventures, and other major investors.
- Mesh aims to unify fragmented cryptocurrency ecosystem by connecting wallets, chains, and digital assets into single network.
- Platform enables users to pay with any crypto while merchants receive stablecoins, with portion of raise settled using stablecoins.
Cryptocurrency payments network Mesh has successfully closed a $75 million Series C funding round led by Dragonfly Capital with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures. The firm has reached unicorn status with a valuation of $1 billion and more than $200 million raised to date.
According to a Jan. 27 press release, the Series C funds will go towards creating a universal crypto payments network and expanding the firm’s operations throughout Latin America, Asia and Europe.
Mesh CEO Bam Azizi, in a press statement, described the cryptocurrency space as “crowded by design,” highlighting the steady emergence of new tokens and protocols and decrying the resultant fragmentation.
Azizi said Mesh is focused on “building the necessary infrastructure now to connect wallets, chains, and assets, allowing them to function as a unified network.” He added that the Series C funding “validates that the winners of the next decade won’t be those who issue the most tokens, but those who build the network of networks that makes traditional card rails obsolete.”
A Universal Crypto Payment Network
Mesh described the legacy payment system as a product of a bygone era in a post on X.com, stating that the funding round represented “the beginning of the end for legacy payments.”
The company cites its “any to any” advantage, where users can pay with any crypto asset they hold and merchants are able to seamlessly receive payment in the stablecoin of their choice.
As Coinspeaker recently reported, many within the industry expect stablecoins to continue their explosive rise in popularity from 2025 throughout the year. Ripple President Monica Long, for example, recently predicted crypto treasury holdings would surge to $1 trillion by the end of 2026.
In testament to the growing popularity of stablecoins, at least some of the $75 million raised over the Series C round was settled using stablecoins. Mesh says this was to demonstrate that stablecoins and the infrastructure supporting them “are ready for high-stakes, real-world use” and provide definitive proof that global institutions are now comfortably relying on blockchain-native settlement.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Tristan Greene on X
Source: https://www.coinspeaker.com/mesh-crypto-payments-unicorn-75m-series-c-dragonfly/
