According to Odaily Planet Daily, PayPal Ventures, the venture capital arm of PayPal, recently invested US$5 million in the crypto payment company Mesh through its stable currency PYUSD💰. Mesh revealed that hundreds of companies are currently integrating its services, including well-known exchanges and financial technology companies, but the specific names have not been announced yet. Mesh founder and CEO Bam Azizi said that although the company is not yet profitable, it is not difficult to achieve its profit target.

In addition to the $5 million provided to Mesh in the form of stablecoins (recorded on the Ethereum blockchain), PayPal Ventures also injected an additional $1.5 million in cash. It is worth mentioning that in September last year, the crypto transfer and payment service startup Mesh (formerly known as Front Finance) completed a $22 million Series A financing, led by Money Forward, with participation from many well-known companies such as Galaxy and Samsung Next.