Binance is set to lead a new funding round for Mesh at a valuation of up to $2 billion, according to a report by Axios. The move reflects continued investor demand for crypto payments and settlement infrastructure as stablecoins expand into mainstream financial services. In January, Mesh raised $75 million at a $1 billion valuation in a Series C round led by Dragonfly Capital, with participation from Coinbase Ventures, SBI, Paradigm, Moderne Ventures and Liberty City Ventures. The company had raised more than $200 million before the reported Binance-led round. Mesh builds crypto payments and settlement infrastructure designed to let users pay, transfer and settle with digital assets across wallets, exchanges and financial platforms.
Mesh Raised $75 Million Series C at $1 Billion Valuation in January
Mesh completed a $75 million Series C funding round in January at a $1 billion valuation. Dragonfly Capital led the round, with participation from Coinbase Ventures, SBI, Paradigm, Moderne Ventures and Liberty City Ventures. The company had raised more than $200 million in total funding before the reported Binance-led round. The reported new funding round would value Mesh at up to $2 billion, roughly double the valuation secured in January.
Mesh's core product allows users to pay, transfer and settle with digital assets across wallets, exchanges and financial platforms. The infrastructure aims to enable crypto payments to work across apps and custodians without requiring users to manually move assets through fragmented exchange and wallet flows.
Binance Positions for Payment Infrastructure Expansion
Binance remains the world's largest crypto exchange by trading volume. The reported investment would give Binance exposure to payment routing, stablecoin settlement and wallet-connected commerce. The company has emphasized payments, compliance, wallet infrastructure and financial access as regulatory scrutiny reshapes the exchange business. A stake in Mesh could allow Binance to participate in payment flows when users transact across third-party wallets or platforms.
Coinbase Ventures was already an investor in Mesh. A Binance-led round would bring two major exchange ecosystems into the same payments infrastructure company. For Mesh, Binance's participation would provide exchange liquidity, distribution, stablecoin connectivity and access to a global user base.
Stablecoin Infrastructure Attracts Strategic Capital
The funding talks reflect a market rotation toward stablecoins and payment rails. Investors are prioritizing infrastructure that can support everyday financial activity after years of focus on DeFi, NFTs, gaming and Layer 1 ecosystems. Stablecoins provide dollar-like settlement on blockchain networks, making them useful for remittances, cross-border payments, merchant settlement, treasury operations and card-linked spending.
The passage of U.S. stablecoin legislation and the rollout of clearer rules in Europe have strengthened investor confidence that regulated digital dollar infrastructure can scale beyond crypto-native users. Mesh focuses on interoperability, aiming to reduce friction between wallets, exchanges, payment apps and merchants. The valuation increase from $1 billion to as much as $2 billion in approximately six months suggests that strategic investors view crypto payments as a sector capable of attracting adoption during a weaker token market.
Crypto payments remain competitive, with Visa, Mastercard, Coinbase, Circle, Tether, Stripe and stablecoin consortia building or backing their own infrastructure. Strategic capital is flowing toward companies that can make crypto usable as money rather than solely as a trading asset.
FAQ
What valuation is Binance reportedly planning for Mesh's funding round?
Binance is set to lead a funding round for Mesh at a valuation of up to $2 billion, according to a report by Axios. This would be roughly double the $1 billion valuation Mesh secured in its Series C round in January.
What funding did Mesh raise in January?
Mesh raised $75 million in January at a $1 billion valuation in a Series C round led by Dragonfly Capital. Coinbase Ventures, SBI, Paradigm, Moderne Ventures and Liberty City Ventures participated in the round. The company had raised more than $200 million in total funding before the reported Binance-led round.
What does Mesh's infrastructure do?
Mesh builds crypto payments and settlement infrastructure that allows users to pay, transfer and settle with digital assets across wallets, exchanges and financial platforms. The infrastructure aims to enable crypto payments to work across apps and custodians without requiring manual asset movement through fragmented exchange and wallet flows.
