PayPal and Coinbase invest in crypto firm Mesh
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The size of the latest round - which comes after an $82 million raise in March - was not disclosed but is understood to be at least $10 million.
PayPal and Coinbase were joined by Uphold, Mirana Ventures, SBI Investment, Overlook Ventures, Kingsway Capital, Moderne Ventures, and CE-Ventures.
Mesh helps businesses to integrate crypto transfers and payments directly into their existing platforms, eliminating the need for users to switch between platforms.
Its technology supported the launch of PayPal's Pay with Crypto service, which allows users to pay with a wide range of cryptocurrencies and eligible wallets.
Most of the latest funding was settled with the PayPal USD stablecoin, with Mesh's technology used to instantly transfer the investment.
The money will be used to accelerate Mesh's expansion across the global payments industry, scaling APIs, expanding product development, and powering hundreds of crypto and payments platforms.
Amman Bhasin, partner, PayPal Ventures, says: "As crypto goes mainstream, Mesh is building the infrastructure layer that enables enterprises to embed crypto payments, transfers, and commerce experiences directly into their apps.
"We're strengthening our commitment because Mesh has shown they can deliver the security, compliance, and scalability that enterprises demand."
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