Mesh, a San Francisco–primarily based crypto funds infrastructure firm, raised $75 million in a Collection C funding spherical led by Dragonfly Capital, bringing its whole funding to greater than $200 million and valuing the corporate at $1 billion.
The spherical included participation from Paradigm, Moderne Ventures, SBI Funding, Coinbase Ventures and Liberty Metropolis Ventures, in keeping with an announcement on Tuesday.
Mesh mentioned a portion of raised funds was settled utilizing stablecoins somewhat than conventional banking rails. Mesh will use the funds to broaden its crypto funds community throughout areas together with Latin America, Asia and Europe, and to assist product growth.
Mesh lately expanded into India, citing the nation’s giant, tech-savvy inhabitants and greater than $125 billion in annual remittances as elements behind the transfer.
The corporate was based in 2020 and operates a community that connects exchanges, wallets and monetary companies platforms, permitting customers to pay with one digital asset whereas retailers obtain settlement in a stablecoin or fiat forex of their selection. By its companion integrations, the corporate reviews reaching greater than 900 million customers worldwide.
Rob Hadick, normal companion at Dragonfly, mentioned:
“Funds are coming into a brand new period the place worth strikes as software program. Mesh is constructing the interoperability layer that makes crypto sensible at scale: shoppers can spend any asset, retailers can settle immediately within the stablecoin or fiat they need, and the complexity stays below the hood.”
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Stablecoin infrastructure will get funding
The passage of the GENIUS Act in the US has coincided with a wave of funding in stablecoin-related infrastructure, as corporations place themselves for broader use of dollar-backed tokens in funds and cross-border settlement.
In October, Stripe’s blockchain undertaking, Tempo, raised $500 million in a Collection A funding spherical led by Greenoaks and Thrive Capital, valuing the layer-1network at $5 billion.
The increase got here lower than two months after Stripe unveiled plans for the blockchain, which the corporate has positioned as infrastructure optimized for stablecoins and high-scale, real-world funds.
Rain, a US-based stablecoin infrastructure supplier, lately raised $250 million in a Collection C funding spherical led by Iconiq, valuing the corporate at $1.95 billion. The increase introduced Rain’s whole funding to $338 million, with participation from present buyers together with Galaxy Digital, Sapphire Ventures, Dragonfly, Lightspeed, Norwest and Endeavor Catalyst.
Stablecoin infrastructure firm VelaFi secured $20 million in a Collection B funding spherical backed by XVC and Ikuyo, bringing its whole funding to greater than $40 million.
The stablecoin market has grown to $308.3 billion from $204.8 billion January 2025, representing a soar of about 51%, in keeping with DeFiLlama knowledge.
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