Mesh Raise $82m to Bring Stablecoins Everywhere Ft. CEO Bam Azizi
Mar 24, 2025
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Bam Azizi, CEO of Mesh and co-founder focused on crypto payments infrastructure, shares insights into the world of stablecoins. He explains why stablecoins are considered the killer app for crypto, especially for subscriptions. The discussion includes the rise of stablecoin payments in Latin America and how regulatory shifts, particularly from the OCC, are shaping the future of banking. Azizi also highlights the need for better user experience in crypto payments and the competitive landscape of stablecoin issuers.
Stablecoins are emerging as a pivotal tool for enhancing transaction efficiency, simplifying payments across diverse platforms globally.
Mesh's strategic shift from on-ramping to direct payment solutions indicates its responsiveness to the rising demand for stablecoin integration.
Recent OCC guidance is paving the way for banks to engage with stablecoins, potentially transforming the financial services landscape and consumer offerings.
Deep dives
Shift Toward a Global Economy
The discussion emphasizes the ongoing transition to a global economy facilitated by stablecoins and cryptocurrencies. These digital currencies are being recognized for their potential to create an integrated payment system that can enhance the efficiency of transactions across various platforms. The emergence of stablecoins like PYUSD shows a trend towards adopting a more stable financial medium, which allows for quicker and cheaper monetary exchanges. This shift underscores the necessity for businesses and payment service providers (PSPs) to adapt their strategies to leverage stablecoin adoption for enhanced financial connectivity.
Mesh's Role in Payments Innovation
Mesh positions itself as a critical player in the payment infrastructure space, addressing increasing demand for stablecoin-based solutions. The company has experienced substantial growth, notably a 300% increase in transaction volumes, primarily driven by rising stablecoin adoption. Mesh simplifies the payment process for users by allowing them to use their existing crypto wallets seamlessly for transactions. This evolution from primarily on-ramping to enabling direct merchant payments exemplifies how Mesh is adapting to meet emerging market needs.
Challenges of Integration in Crypto Payments
The dialogue highlights significant challenges PSPs face in integrating diverse exchanges and wallets to facilitate stablecoin payments. Many users today own various cryptocurrencies across multiple platforms, which complicates the payment process that traditionally favors stability and simplicity. Mesh aims to resolve this by establishing a unified experience that abstracts the complexity of cryptocurrency transactions from both merchants and consumers. This approach enables an easier transition for businesses to accept stablecoin payments without needing to manage extensive integrations themselves.
Regulatory Developments and Their Impacts
Recent regulatory developments, especially from the OCC, signify a more favorable environment for banks exploring stablecoin operations. The updated guidance allows banks to engage in cryptocurrency activities without prior non-objection, facilitating smoother entry into the stablecoin market. This regulatory clarity may encourage more banks to develop products linked with stablecoins, leveraging their existing infrastructure and user base. As banks begin to deploy stablecoin services, the competitive landscape will evolve, benefiting consumers by providing enhanced financial offerings.
BBVA and European Banking Innovations
BBVA's introduction of cryptocurrency services in Spain marks a significant advancement in the banking sector's relationship with digital currencies. This move positions BBVA as one of the first major European banks to provide crypto trading and custody, underlining their commitment to modernizing banking through digital assets. The strategic expansion is beneficial for BBVA, as it opens avenues for efficient international money movement through stablecoins, especially in emerging markets. This initiative demonstrates how traditional banks can innovate by adopting cryptocurrency solutions while continuing to serve their diverse customer base.
On Ep. 23 of Tokenized, Simon Taylor, Head of Content & Strategy @ Sardine, and Cuy Sheffield, Head of Crypto @ Visa, are joined by Bam Azizi, CEO @ Mesh to discuss stablecoins for subscriptions, the OCC’s new guidance and building the future of crypto payments.
Timestamps:
00:00 Mesh on building the future of crypto payments
04:01 Why stablecoins are the killer app for crypto
06:29 How Mesh pivoted from on-ramps to payments
08:14 The rise of stablecoin payments in LATAM
13:04 Why crypto payments need better UX to scale
16:13 Stablecoins for subscriptions
26:30 The stablecoin wars
32:26 OCC’s new guidance and what it means for banks
45:55 BBVA launches retail crypto services in Spain
This episode is brought to you by Visa
A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto.
This podcast is also presented by BVNK.
BVNK is the leading provider of stablecoin payments infrastructure—helping businesses move money faster, settle globally, and even launch their own stablecoin products. Head to BVNK.com to learn more!
This podcast is also supported by Canton Network.
The groundbreaking Layer 1 public chain where traditional finance and crypto are converging. Visit canton.network to learn more.
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We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research!
Music by Henry McLean
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