Binance in talks to lead Mesh funding round at $2 billion valuation

Binance is in advanced discussions to lead a new funding round for crypto payments network Mesh at a valuation of up to $2 billion, Axios reported Wednesday, citing people familiar with the matter.

If finalized, the deal would double Mesh’s valuation within months and highlight growing investor confidence in blockchain-based payment rails as the next major battleground in digital finance.

According to a report by Axios, citing people familiar with the matter, Binance is in advanced discussions to anchor the funding round.

While neither Binance nor Mesh has officially confirmed the transaction, the reported valuation reflects institutional appetite for companies building the infrastructure that enables seamless crypto and stablecoin payments.

Mesh emerges as a key player in crypto payments

Founded in 2020, Mesh has positioned itself as a universal payments network that connects hundreds of crypto wallets, exchanges, and financial applications.

Its technology enables users to pay with one digital asset while merchants receive settlement in another asset or even fiat currency without requiring manual token swaps.

Earlier this year, Mesh achieved unicorn status after raising $75 million in a Series C funding round led by Dragonfly Capital, valuing the company at approximately $1 billion.

Existing investors include Paradigm, Coinbase Ventures, SBI Investment, Moderne Ventures, and Liberty City Ventures.

The company’s rapid valuation growth reflects increasing demand for infrastructure supporting stablecoin payments, cross-chain interoperability, and tokenized financial services.

“We’re expanding the first truly global crypto payments network, one that allows users to pay with any crypto they hold while ensuring merchants can settle in the stablecoin of their choice, just like they do with fiat today.” Bam Azizi, Co-founder and CEO, Mesh.

Mesh’s technology already integrates with major wallets and payment providers, allowing digital assets to move across multiple ecosystems without users needing to understand the underlying blockchain complexity.

Binance expands beyond exchange services

Should the reported investment proceed, it would represent another strategic step in Binance’s effort to diversify beyond its core cryptocurrency exchange business.

Over the past several years, Binance has expanded into institutional custody, Web3 infrastructure, blockchain development, decentralized finance, and payment services.

Backing Mesh would provide the exchange with exposure to one of the fastest-growing segments of the crypto economy: payment settlement infrastructure.

Rather than competing solely on trading volumes, major exchanges are increasingly investing in the underlying technology powering digital commerce.

Industry analysts suggest the timing is notable as regulatory clarity surrounding stablecoins continues to improve in several jurisdictions, encouraging financial institutions to explore blockchain-based settlement networks.

Mesh’s infrastructure enables merchants and payment providers to abstract away blockchain complexity while maintaining the speed and cost advantages associated with digital assets.

For blockchain developers, this trend represents growing demand for middleware solutions capable of connecting multiple chains, wallets, APIs, and financial institutions into a unified payments ecosystem.

Stablecoins become the industry’s next growth engine

The reported funding discussions also reflect a broader shift occurring across the crypto industry.

As speculative trading matures, venture capital is increasingly flowing toward companies building real-world financial infrastructure.

Stablecoins have become one of crypto’s fastest-growing use cases, facilitating remittances, cross-border commerce, treasury management, and institutional settlement.

Infrastructure providers like Mesh are benefiting from this transition by offering interoperability between traditional finance and decentralized networks.

Earlier fundraising rounds demonstrated investor confidence in the company’s long-term vision.

“Mesh positions itself as addressing inefficiencies in traditional payment rails by connecting a fragmented global digital asset ecosystem,” – the company said following its Series C announcement.

If Binance ultimately leads the new financing round, the investment would further validate the growing importance of payment infrastructure within the broader blockchain economy.

Although neither company has formally announced the transaction, the reported funding round illustrates how competition is shifting away from exchanges alone and toward the networks that enable digital assets to function as everyday payment instruments.

As stablecoin usage expands and tokenized finance gains momentum, companies building settlement infrastructure are increasingly becoming some of the most strategically valuable businesses in the cryptocurrency ecosystem.