Binance is reportedly set to lead a new funding round for Mesh, a crypto payments and settlement company, at a valuation of up to $2 billion.
Summary
- Binance’s planned lead role could double Mesh’s valuation from $1B to as much as $2B.
- Mesh’s payments network targets digital asset transfers across wallets, exchanges, stablecoins, and fiat rails globally.
- Growing stablecoin rules and tokenization demand are pushing investors toward crypto settlement infrastructure providers.
The deal was reported by Axios, citing people familiar with the matter. The report said demand for digital asset-to-fiat transfer tools, payment systems, and settlement infrastructure is rising.
Meanwhile, that demand comes as stablecoin rules become clearer and tokenization moves deeper into financial markets. The round has not been formally announced by Binance or Mesh.
Mesh valuation could double
The reported round would mark a sharp rise in Mesh’s valuation. As crypto.news reported, Mesh raised a $75 million Series C in January at a $1 billion valuation. That round was led by Dragonfly Capital, with backing from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.
Mesh was formerly known as Front Finance. The company builds payment infrastructure that connects wallets, exchanges, digital assets, and fiat rails. It aims to make crypto payments easier for users while letting merchants receive stablecoins or fiat without handling complex blockchain steps.
Stablecoin rules lift demand
Stablecoins have become a major focus for payment companies, exchanges, and banks. Banking Circle launched regulated stablecoin settlement services after receiving approval in Luxembourg. The bank now supports USDC, USDG, and its own EURI for institutional fiat and crypto conversion.
The market is also moving toward tokenized bank deposits. As crypto.news reported, major U.S. banks are backing a tokenized deposit network through the Clearing House, with a launch targeted for early 2027. That system would let banks settle tokenized deposits around the clock while keeping customer deposits inside regulated banking channels.
Funding race turns to settlement
Mesh sits in the middle of this shift because it focuses on the movement of value between assets, wallets, and payment systems. Its model addresses a common issue in crypto payments: users may hold one asset, while merchants or platforms may want settlement in another asset or in fiat currency.
The company has also worked to expand access through partnerships. Moreover, Mesh partnered with Italy’s crypto wallet Conio in 2024, giving Conio users access to several crypto exchanges and withdrawal options through Mesh’s connection layer.
A Binance-led round would show that large exchanges still see payment and settlement infrastructure as a core growth area. It would also place Mesh closer to the center of the stablecoin and tokenization race, where firms are trying to connect crypto rails with everyday payments, institutional transfers, and fiat settlement.
The reported valuation also reflects a wider shift in crypto funding. Investors have moved beyond trading apps and tokens toward systems that can support regulated payments, cross-border transfers, and asset settlement.
If the round closes near the reported level, Mesh would have doubled its valuation in about six months, showing continued demand for infrastructure that links digital assets with traditional money.
