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Fintech startup Mesh has partnered with Turkey’s crypto exchange Paribu to enhance user access to seamless payments across the web3 ecosystem.
Mesh, a U.S. fintech startup backed by <a href="https://crypto.news/tag/paypal/" target="_blank" rel="noopener noreferrer nofollow">PayPal</a> Ventures, has joined forces with centralized cryptocurrency exchange Paribu, aiming to enhance user experience in <a href="https://crypto.news/tag/turkey/" target="_blank" rel="noopener noreferrer nofollow">Turkey</a>‘s burgeoning crypto market.
According to an Oct. 1 <a href="https://www.prnewswire.com/news-releases/mesh-forges-exclusive-partnership-with-paribu-to-streamline-crypto-onboarding-in-turkiye-302264020.html" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the partnership designates Paribu as Mesh’s sole official exchange partner in the region, allowing its users to access Mesh’s connectivity layer with hundreds of platforms, including self-custodial wallets like <a href="https://crypto.news/tag/metamask/" target="_blank" rel="noopener noreferrer nofollow">MetaMask</a>.
According to the Chainalysis 2024 Global Crypto Adoption Index, Turkey <a href="https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/" target="_blank" rel="noopener noreferrer nofollow">ranks</a> 11th globally in cryptocurrency adoption, underscoring the country’s importance in the international crypto market. Mesh says the partnership allows Paribu users to access their accounts directly from other platforms, enabling them to focus on “their financial goals rather than having to worry about long crypto addresses, QR codes, and seed phrases.”
Mesh CEO and co-founder Bam Azizi described the collaboration as “key to shaping the future of crypto adoption in the country.”
<h2 class="wp-block-heading" id="turkey-pauses-crypto-tax">Turkey pauses crypto tax</h2>
The partnership emerges at a time when Turkey’s Vice President Cevdet Yilmaz <a href="https://crypto.news/turkey-decides-against-taxing-crypto-profits-this-year/" target="_blank" rel="noopener noreferrer nofollow">confirmed</a> that the government will not impose a tax on profits from cryptocurrency or stock trading this year.
The decision follows earlier considerations for such a tax, which were postponed in June after a decline in the Turkish stock market. Instead, the government is now focused on refining existing tax regulations and narrowing tax exemptions, signaling a more favorable regulatory environment for the cryptocurrency sector.
Yasin Oral, founder of Paribu, noted the partnership’s importance in enhancing the interconnectedness of the global cryptocurrency ecosystem, stating that the collaboration bridges the gap in “embedded finance” with over 300 key players in the web3 space.
Founded in 2020 by Bam Azizi and Adam Israel, Mesh secured $22 million in a Series A funding round in September 2023. That capital infusion, led by Money Forward and supported by other investors including&nbsp;<a href="https://crypto.news/tag/galaxy-digital/" target="_blank" rel="noopener noreferrer nofollow">Galaxy</a>&nbsp;and&nbsp;<a href="https://crypto.news/tag/samsung/" target="_blank" rel="noopener noreferrer nofollow">Samsung</a>&nbsp;Next. Subsequently, the startup also secured funding from PayPal Ventures in the form of PayPal’s PYUSD stablecoin.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/samsung-backed-crypto-startup-mesh-partners-with-coinmena-to-expand-services-in-mena/"> Samsung-backed crypto startup Mesh partners with CoinMENA to expand services in MENA </a>

PayPal-backed startup Mesh collaborates with Paribu in Turkey expansion

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