Blockchain for Banking News

PayPal uses stablecoin to make $6.5m investment in Mesh crypto venture

paypal

PayPal Ventures announced it invested $6.5 million in Mesh, which revealed a $22 million funding round last week. $5 million of the PayPal investment was settled using PayPal’s PYUSD stablecoin. Mesh provides an aggregation service integrated with 300 exchanges, wallets and brokerages. It allows app providers to enable their users to see their balances across different digital asset exchanges and wallets.

It’s not dissimilar to open banking but for digital assets. Hence, users can additionally make payments, trade or transfer digital assets. 

Other Mesh investors include Galaxy and Samsung Next.

Article continues …

subscriber padlock

Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.


Image Copyright: unitysphere / 123rf