Crypto exchange Bybit's payments arm, Bybit Pay, has integrated with Mesh, a crypto payments infrastructure provider. This allows Bybit users to spend digital assets directly from their exchange balances across Mesh-powered platforms without needing to withdraw funds first.
This integration expands the utility of crypto assets for everyday payments and enhances the reach of crypto payment solutions by connecting exchanges and businesses.
Bybit Pay, the payments division of the cryptocurrency exchange Bybit, has partnered with Mesh, a provider of crypto payment infrastructure. This collaboration enables Bybit users to directly utilize their digital assets held on the exchange for payments and account funding across platforms that support Mesh.
The new integration eliminates the need for users to withdraw or transfer their crypto assets to another platform before making a purchase or funding an account. By selecting Bybit Pay at checkout, users can seamlessly complete transactions using their Bybit balances.
For businesses already integrated with Mesh, incorporating Bybit Pay as a payment method is a straightforward process through their existing setup. This provides them with access to Bybit's user base, which the exchange claims numbers 80 million. The integration also features programmable settlement options, giving businesses flexibility in managing payment settlements across various markets.
Mesh's network reportedly connects more than 300 wallets, exchanges, and financial services platforms, facilitating the movement of digital assets between these participating services. In January, Mesh secured $75 million in a Series C funding round led by Dragonfly, achieving a valuation of $1 billion and bringing its total funding to over $200 million. At the time of that funding, Mesh indicated plans for expansion into Latin America, Asia, and Europe.