Paypal’s PYUSD Stablecoin Attracting Investment In Mesh
Paypal Ventures has invested in Mesh, a digital currency and fintech startup that focuses on advancing digital payments. The capital injection was primarily allocated using the firm’s stablecoin, PYUSD, which is built on the Ethereum network. Mesh operates as a comprehensive account aggregation system with 300 connections with various exchanges, wallets, and brokerages. The investment follows Mesh’s Series A funding round, which raised $22 million, led by Money Forward Inc.
The round included Samsung Next, Galaxy, Streamlined Ventures, SNR.VC, Hike VC, Heitner Group, and Arash Ferdowsi, the Co-founder of Dropbox. Mesh’s co-founder and CEO, Bam Azizi, stated that embedded finance is expected to be a $7 trillion market opportunity
(With inputs from Shikha Singh)
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