Crypto payments network Mesh has raised $75 million in a Series C round, pushing its total funding past $200 million and valuing the company at $1 billion.

The round was led by Dragonfly Capital, with participation from Paradigm, “,”venture arm of coinbase”], Moderne Ventures, SBI Investment, and Liberty City Ventures.

The funding comes as investors move away from speculative token launches and toward infrastructure that enables real-world crypto adoption. Mesh positions itself as a unifying payments layer, aiming to reduce reliance on slow and costly traditional settlement systems.

The company says its network already reaches over 900 million users globally and plans to expand further into Latin America, Asia, and Europe. Mesh has previously expanded into India, citing strong remittance flows and a young, digital-first population.

Mesh is also leaning into stablecoin-based payments, supporting Ripple USD and partnering with Paxos and Rain.

To address growing stablecoin fragmentation, Mesh’s SmartFunding technology allows users to pay with assets like Bitcoin or Solana, while merchants receive instant settlement in stablecoins such as USDC, PYUSD, or fiat. Notably, part of the Series C round itself was settled using stablecoins, highlighting growing institutional confidence in blockchain-native payment rails.