Rabbit

Ribbit

Quick take:
<ul>
 <li>The fundraising was led by Solana Ventures and Rabbit Capital.</li>
 <li>Canonical Crypto and 6MV also joined the round with Chris Kalani, Bill Ready and Archie Purri joining as individual investors.</li>
 <li>The crypto on-ramp platform integrates bank accounts with decentralised apps.</li>
</ul>
Meso, a Web3 payments platform founded by former PayPal, Braintree and Venmo executives has launched with a $9.5 million seed round led by Solana Ventures and Rabbit Capital. The fundraising also attracted participation from Canonical Crypto and 6MV, with Phantom cofounder Chris Kalani, Pinterest CEO Bill Ready and Bodhi Labs’ Archie Purri joining as individual investors.
According to the <a href="https://fortune.com/crypto/2024/02/20/meso-paypal-venmo-crypto-wallet-seed-round-launch/" target="_blank" rel="noopener noreferrer nofollow">announcement</a>, Meso is building a crypto payments platform that connects bank accounts with decentralised applications. The company wants to make it easier for non-crypto native users to easily buy and sell cryptocurrencies using traditional methods.&nbsp;
“[Meso is] a crypto app, like a self-custodial wallet or a centralized exchange, can now build [seamlessly] for a user to load money in and out of their wallet,” Meso cofounder and CEO Ben Mills told Fortune.
The concept allows crypto applications to onboard new users without first sending them to a centralised exchange to fund their wallets. According to Mills, enabling a simpler way of onboarding new users to the crypto industry is needed for broader adoption.&nbsp;
“We have a solution that allows you to keep the user where they are, which is, frankly, just better for everyone,” Mills said.
One of the biggest challenges facing crypto applications is building sustainable user bases. The complexity involved in creating crypto wallets coupled with the process of exchanging different cryptocurrencies and moving them across different networks prevents non-crypto native users from interacting with decentralised finance (DeFi) apps frequently.
However, the Meso co-founders are using their experiences from PayPal and Venmo to address the problem by connecting Fintech/TradFi with the world of DeFi.
“Meso envisions a future where users aren’t required to use centralized exchanges to get started in crypto,” Mills said in a statement.
Meso has already partnered with a crypto-friendly regional bank and USDC stablecoin issuer Cross River Bank, which previously worked with Circle. The company will charge a modest fee of 1.5% for fund transfers between bank accounts and cryptocurrency wallets, making the service more cost-effective for users.
Ribbit Capital’s Justin Saslaw said in a statement: “[Meso’s] work on seamless fiat-blockchain transactions is helping to create a ubiquitous payment platform, connecting disparate parts of the financial grid.”
****
Stay up to date:
Subscribe to our newsletter using&nbsp;<a href="https://nftgators.substack.com/" target="_blank" rel="noopener noreferrer nofollow">this link</a>&nbsp;– we won’t spam!
<ul>
 <li><a href="https://news.google.com/publications/CAAqBwgKMKqZrgswt6TGAw?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" target="_blank" rel="noopener noreferrer nofollow">Google News</a></li>
 <li><a href="https://twitter.com/NFTgators" rel="noopener noreferrer nofollow">Twitter</a></li>
 <li><a href="https://t.me/NFTgatorsNews" rel="noopener noreferrer nofollow">Telegram</a></li>
 <li><a href="https://www.linkedin.com/company/nftgators/" rel="noopener noreferrer nofollow">LinkedIn</a></li>
 <li><a href="https://facebook.com/NFTgators-103707808818830" rel="noopener noreferrer nofollow">Facebook</a></li>
 <li><a href="https://www.tiktok.com/@nftgators" rel="noopener noreferrer nofollow">TikTok</a></li>
</ul>
The post <a href="https://www.nftgators.com/meso-raises-9-5m-seed-rund-for-crypto-on-ramp-platform/" rel="noopener noreferrer nofollow">Meso Raises $9.5M Seed Rund for Crypto On-Ramp Platform</a> appeared first on <a href="https://www.nftgators.com" rel="noopener noreferrer nofollow">NFTgators </a>.

Meso Raises $9.5M Seed Rund for Crypto On-Ramp Platform

NFTgators

Άλλα άρθρα που δημοσιεύτηκαν στις 20 Φεβ 2024

Solana-based Backpack Crypto Exchange Attains $1B Daily Trading Volume Just 5 Days After Pre-seas...

AI Coins Turn Bullish as The Graph, Fetch.ai Lead Top Crypto Gainers

Solana (SOL) Could Close February Above $135 but Its Competitor Will Jump 500%

AI Accounting Fraud Detection Software

New Zealand Health Sector Embarks on Major ICT Overhaul to Enhance Care Delivery

Expert predicts Ripple vs. SEC case judgment timeline

Join our free newsletter for daily crypto updates!