Binance is leading a funding round that could value crypto payments firm Mesh at $2 billion, up from $1 billion earlier this year. The round signals demand for digital asset-to-fiat infrastructure.
Binance is leading a new funding round for crypto payments startup Mesh, a deal that could value the company at $2 billion, Axios reported Tuesday, citing people familiar with the matter.
Mesh was valued at $1 billion earlier this year after a $75 million Series C. The company raised an additional $82 million in 2025 to speed product development and API expansion. A $2 billion valuation would mark a rapid doubling in less than 12 months.
The round comes as demand for digital asset-to-fiat transfer tools and payment systems grows, the report said. Mesh's platform lets users move money between crypto wallets and bank accounts, a service that banks and fintechs are increasingly looking to integrate.
“We strongly believe that the future of the economy is tokenized, and this tokenized economy will be heavily fragmented,” Mesh co-founder and CEO Bam Azizi told Bloomberg News. “Businesses and consumers need something like Mesh that abstracts all of that complexity.”
Azizi has also stressed the user experience gap. “The biggest problem in crypto is not adoption, it’s the user experience,” he said in a 2025 interview. “You need to make payments so simple that even a grandmother will use it one day, maybe without even knowing that the mechanism behind the scenes is a stablecoin.”
Adoption of stablecoins for corporate payments remains limited. A PYMNTS Intelligence report found that 13% of middle-market firms use stablecoins and 5% use other crypto. The report noted that stablecoin infrastructure needs to look less like crypto experimentation and more like institutional-grade financial plumbing.
Binance's involvement adds a layer of complexity. The exchange has faced regulatory scrutiny in multiple jurisdictions, and its backing could raise questions for Mesh's institutional clients. At the same time, Binance's distribution network could accelerate Mesh's growth in emerging markets.
The round is not yet closed, and terms could change, the Axios report said. A $2 billion valuation would put Mesh among the most valuable crypto payments companies, alongside firms like Circle and Ripple.
Mesh has not commented on the report. For a broader view of the crypto market analysis, the funding round will test whether investor appetite for payment infrastructure matches the hype.
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