PayPal Ventures recently supported Mesh, which provides the infrastructure for smoother cross-crypto transfers and payments within existing businesses.
This is the first investment by a Venture Capital arm using PayPal’s Stable coin called PYUSD.
In 2020, the emergence of Mesh solved the challenge associated with switching platforms for crypto transactions. Companies can plug Mesh’s technology, making things less bumpy and easier.
“User ownership and portability of assets will be key to product innovation,” said Amman Bhasin, a PayPal Ventures partner. Mesh aligns perfectly with these values and thus is one of the leaders in this fast-growing field.
This investment comes shortly after Mesh’s $ 22 million Series A round in September. According to CEO Bam Azizi, embedded finance is a $7 trillion market opportunity and Mesh is well-positioned to change the dynamics of digital transactions.
The act reflects a wider adoption by software companies of embedded finance. With their existing customer relationships, marketplaces are uniquely positioned to integrate financial services in a streamlined manner. As Luke Latham from Airwallex points out, “E-commerce marketplaces have a view of all the payment flow placing them in good stead to lead this next evolutionary stage in embedded finance.”
PayPal’s investment places Mesh in a strategic position to influence the evolution of embedded finance, especially concerning cryptocurrencies.