Mesh, a crypto payments network, announced it closed a $75 million Series C funding round, reaching a $1 billion valuation. The company has now raised over $200 million in total funding. Dragonfly Capital led the round, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.
The funding comes as the crypto industry shifts from speculation toward infrastructure. Mesh positions itself as the only unified payment network designed for a borderless, tokenized economy. Traditional payment systems, built for an analog world, struggle with slow settlements and high fees. Mesh addresses this by connecting a fragmented global crypto market into a single network.
The new capital will accelerate Mesh's expansion into Latin America, Asia, and Europe while fueling product development. The company's network already reaches more than 900 million users worldwide. Earlier this year, Mesh announced its expansion into India, targeting the country's tech-savvy population and $125 billion-plus in annual remittances. Recent partnerships include support for Ripple USD and collaborations with Paxos and Rain.
"Crypto is crowded by design, with new tokens and new protocols emerging every day," said Bam Azizi, Co-founder and CEO of Mesh. "That fragmentation creates real friction in the customer payment experience. We are focused on building the necessary infrastructure now to connect wallets, chains, and assets, allowing them to function as a unified network. This 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."
Stablecoins reached a historic $300 billion market cap in 2025, processing over $27 trillion in annual transaction volume. While this growth signals a healthy industry, it has also created isolated pockets of liquidity. Users must navigate disparate platforms and complex network choices, reintroducing the fragmentation that crypto was meant to eliminate.
Mesh acts as a neutral layer that unifies this landscape. The company remains asset-agnostic, providing infrastructure that allows the entire industry to function as a single system. Its proprietary SmartFunding technology enables an "any-to-any" payment experience: consumers can pay with any asset they hold, from Bitcoin to Solana, while merchants receive instant settlement in their preferred stablecoin like USDC or PYUSD, or local currency such as dollars or euros.
A portion of Mesh's $75 million Series C round was settled using stablecoins, demonstrating the readiness of blockchain-native settlement for high-stakes transactions. This milestone shows that global institutions are now comfortable relying on blockchain settlement when enterprise-grade execution, auditability, and controls are in place.
"Payments are entering a new era where value moves as software. Mesh is building the interoperability layer that makes crypto practical at scale: consumers can spend any asset, merchants can settle instantly in the stablecoin or fiat they want, and the complexity stays under the hood. That 'any-to-any' experience is exactly what mainstream adoption demands, and we're excited to lead this round as Mesh becomes the universal network for global, compliant crypto payments," said Rob Hadick, General Partner at Dragonfly.
Founded in 2020, Mesh connects hundreds of exchanges, wallets, and financial services platforms to enable seamless digital asset payments and conversions. By unifying these platforms into a single network, the company is creating an open, connected, and secure ecosystem for digital finance. The goal is to make all assets universally spendable, eliminating the complexity that has slowed mainstream crypto adoption.
Dragonfly Capital, which led the round, is a $4 billion crypto-focused global investment firm. Since 2017, Dragonfly has backed influential protocols and companies in the blockchain industry, taking a long-term oriented, technical, and research-driven approach.
