Binance is leading a funding round that could value crypto payments firm Mesh at $2 billion, doubling its valuation from earlier this year. CEO Bam Azizi says the tokenized economy needs abstraction layers.
Binance is set to lead a fresh funding round for crypto payments startup Mesh, a deal that could push the company's valuation to $2 billion, Axios reported, citing people familiar with the matter.
Mesh was valued at $1 billion earlier this year after a $75 million Series C. The company raised another $82 million in 2025 to speed product development and expand its API offerings. The new round, if it closes at the reported figure, would double that valuation in less than 12 months.
“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.”
The company builds payment infrastructure that lets users move money between crypto wallets, bank accounts, and stablecoins. Azizi has described the core problem as user experience, not adoption. “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,” he said at a conference last year.
Mesh operates in a space where corporate adoption of stablecoins remains limited. A PYMNTS Intelligence survey from early 2026 found that only 13% of middle-market companies use stablecoins, and just 5% use other forms of crypto. The same report noted that stablecoin infrastructure needs to look “less like crypto experimentation and more like institutional-grade financial plumbing” to win over CFOs.
Binance's backing gives Mesh both capital and distribution. The exchange has been pushing deeper into payments and on-chain settlement, and a $2 billion valuation for a payments middleware firm signals where the market sees the next growth layer. For more on the round and what it means for crypto payments, see our earlier coverage of Mesh Aims for $2B Valuation in Binance-Led Funding.
The round has not been formally announced. Axios said terms could still change.
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