Binance has reportedly agreed to lead a new funding round for Mesh, valuing the crypto payments firm at up to USD 2 billion.
According to the report, demand is rising for tools that support digital asset-to-fiat transfers, payment systems, and settlement infrastructure. This comes as stablecoin regulation becomes clearer and tokenisation extends further into financial markets.
The reported round would represent a substantial increase in Mesh's valuation. The company, formerly known as Front Finance, raised a USD 75 million Series C round in January 2026 at a USD 1 billion valuation. That round was led by Dragonfly Capital, with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment, and Liberty City Ventures.
In addition, Mesh builds payment infrastructure connecting wallets, exchanges, digital assets, and fiat rails. The platform is designed to allow merchants to receive stablecoins or fiat currency without directly handling blockchain transactions, while enabling users to transact using their existing crypto holdings.
Stablecoin regulation drives infrastructure demand
Stablecoins have become a focus area for payment providers, exchanges, and banks. Banking Circle, for instance, launched regulated stablecoin settlement services after receiving approval in Luxembourg, supporting USDC, USDG, and its own EURI stablecoin for institutional fiat and crypto conversion.
Separately, a group of major US banks is backing a tokenised deposit network via the Clearing House, targeting a launch in early 2027. The system is intended to allow banks to settle tokenised deposits continuously while keeping customer funds within a regulated banking infrastructure.
Settlement infrastructure attracts investor interest
Mesh's positioning reflects a broader shift in the crypto payments sector towards settlement infrastructure that addresses asset mismatches between users, merchants, and platforms. The company has also expanded its reach through partnerships, including a 2024 agreement with Italy-based crypto wallet Conio, which gave Conio's users access to multiple crypto exchanges and withdrawal options through Mesh's connection layer.
A Binance-led investment would indicate continued interest from major exchanges in payment and settlement infrastructure, positioning Mesh within the ongoing convergence of stablecoin adoption, tokenisation, and traditional payment rails.
The reported valuation also points to a broader trend in crypto-sector funding, with investor focus moving from trading applications and tokens towards infrastructure supporting regulated payments, cross-border transfers, and asset settlement. Should the round close near the reported figure, Mesh's valuation would have doubled in approximately six months.
