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PayPal Invests $5M of PYUSD Stablecoin into Startup ‘Mesh’

Innovation | Release | Jan 30, 2024

Image PayPal PYUSD from website - PayPal Invests $5M of PYUSD Stablecoin into Startup 'Mesh'

Image: PayPal/PYUSD Website

PayPal Ventures invests $5 Million of it's own stablecoin PYUSD into a Plaid-like startup for crypto called Mesh

PayPal used its Ethereum-based stablecoin, PYUSD, for the majority of the investment, totaling $5 million of the $6.5 million investment. This strategic move marks the first time PayPal has used its stablecoin as a funding instrument for an investment since its launch in August 2023. The use of PYUSD, which is backed by U.S. dollars, short-term U.S. Treasuries, and similar cash equivalents, demonstrates PayPal's confidence in the potential and stability of its digital currency.

  • Mesh's platform offers a solution akin to Plaid but for the cryptocurrency space, providing an embedded finance solution that simplifies digital asset transfers and account aggregation.
  • The investment came shortly after Mesh's $22 million Series A funding round, which saw participation from several new investors, including Money Forward, Inc., Galaxy, and Samsung Next.
  • Mesh's technology allows businesses to seamlessly integrate crypto transfers and payments into their platforms, eliminating the need for users to switch between different platforms improving usability and the practical application of cryptocurrencies in everyday financial transactions.

See:  PayPal’s Blockchain Vision As New Financial Rail


PayPal's investment in Mesh, particularly with the use of its stablecoin, PYUSD, signals a strong belief in the growth potential of Mesh and the broader field of embedded finance and native stablecoins. PayPal Ventures sees Mesh's technology and approach as integral to the future of financial services, where user ownership and portability of assets are key to product innovation.

NCFA Jan 2018 resize - PayPal Invests $5M of PYUSD Stablecoin into Startup 'Mesh'The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

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