Binance is planning to lead a fresh investment round for crypto payments and settlement business Mesh at a valuation of up to $2 billion, Axios reported, citing sources familiar with the talks. The deal comes only months after Mesh raised a $75 million Series C, valuing the firm at $1 billion and pushing total fundraising above $200 million.
Founded in 2020, Mesh bills itself as a “modern financial operating system” that provides enterprise clients with digital asset transfers, crypto payments, account aggregation, and trading.
Its infrastructure already links to over 300 platforms, including exchanges and wallets, and covers hundreds of millions of users in 100+ countries via partners like Coinbase and Revolut. Binance’s decision to spearhead the new round would expand an existing partnership, as Mesh also helps to manage fiat-crypto flows and stablecoin settlement rails for Binance and other big exchanges.
Growing Demand for Stablecoin-Based Settlement
Axios reported that investors see Mesh’s core business in digital asset–fiat transfer, payments, and settlement as a key winner from clearer stablecoin rules and faster tokenization in major markets.
In recent months, Mesh expanded formal USDC settlement across its network with Circle, positioning itself as a “reliable, dollar‑backed settlement layer that is both interoperable and accessible worldwide.” The company says this lets enterprises, merchants, and payment service providers move value across chains and regions with near‑instant USDC settlement.
Mesh CEO Bam Azizi says the firm’s SmartFunding and orchestration technology solves a practical problem for businesses that want to accept crypto but settle in stable assets or fiat. In an earlier interview on Mesh’s Series B, he said the platform aims to “build the first global network for cryptocurrency payments,” linking exchanges, wallets, and financial services into one layer.
As stablecoin market capitalization has passed $200 billion and supported trillions in on‑chain transactions, investors like PayPal Ventures have highlighted Mesh’s role in embedding crypto payments inside mainstream products.
Mesh’s planned round at up to a $2 billion valuation would nearly double its price from January’s unicorn‑making Series C, signaling strong investor conviction despite a selective venture funding climate. Paradigm, Dragonfly, Coinbase Ventures, and PayPal Ventures have already backed Mesh, giving it a cap table of leading crypto and fintech investors.
If Binance leads the new raise, the deal would tighten ties between one of the world’s largest exchanges and a key infrastructure provider for cross‑platform crypto payments.
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