Bybit Pay integrates Mesh to expand crypto payments

  • Bybit Pay integrated Mesh for direct payments from exchange balances.
  • Mesh links over 300 platforms; Bybit claims more than 80 million users.
  • Businesses can enable Bybit Pay immediately via existing Mesh setups.

Bybit Pay has integrated with crypto payments infrastructure provider Mesh so users can fund accounts and complete payments on Mesh-powered platforms directly from eligible Bybit balances, skipping withdrawals, conversions or manual transfers. Announced on September 3, the link lets businesses already on Mesh turn on Bybit Pay through their existing integration, with programmable settlement so merchants can choose how and when funds settle and receivers can obtain a preferred asset, connecting Mesh’s network of more than 300 wallets, exchanges and financial platforms with Bybit’s claimed base of 80 million users. Mesh co-founder and CEO Bam Azizi said the aim is to bring the network to where money already is, while Sophie Chen, head of marketing at Bybit Card and Pay, said customers can use an asset held in their account while the receiving platform obtains its preferred asset. The same day, Bybit added direct Bybit Pay access for eligible assets in Unified Trading Accounts, ending the need to move them first into a Funding Account, and the exchange has previously extended reach via a SettlePay partnership. Mesh, formerly known as Front Finance and founded in 2020, raised $75 million in a Dragonfly-led Series C in January at a $1 billion valuation, bringing total financing above $200 million with participation from Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment and Liberty City Ventures; PayPal Ventures invested $5 million in Mesh using PYUSD in January 2024, and Axios reported in July that Binance planned to lead another round at a valuation of as much as $2 billion, though neither firm had formally announced a completed deal. Businesses can enable Bybit Pay from September 3; the firms did not detail fees, supported assets or a full market list, U.S. availability depends on regional services, and IRS rules treat crypto spent for goods or services as a property disposal that may require gain or loss reporting.

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