Bybit Pay integrates Mesh for direct crypto payments

Bybit Pay announced a new integration with Mesh, allowing users to pay or fund supported accounts directly from their Bybit exchange balances. The connection removes the need to withdraw assets to an external wallet, convert them manually, or transfer them to another service before completing a transaction.

How the integration works

When Bybit Pay appears as a payment option on a Mesh‑connected platform, customers can select it and use assets already held in their Bybit account. Merchants that already use Mesh can enable Bybit Pay through the same technical setup, adding another payment source without a separate connection to Bybit.

Settlement flexibility

Mesh’s programmable tools let businesses configure how and when funds settle in different markets. Depending on the merchant’s settings, the receiving party may receive a stablecoin or fiat currency even if the payer used a different supported crypto asset.

Scope of Mesh’s network

Mesh operates an infrastructure layer that connects more than 300 wallets, exchanges and financial applications. The network supports digital‑asset transfers, account connections and payment settlement, though the exact functions available depend on the platform, asset and market involved.

Regulatory considerations for U.S. users

The announcement did not specify U.S. availability. For American users who can access the service, payments made directly from an exchange balance are treated as a taxable disposal of property by the IRS. Users must report the transaction’s fair market value, cost basis and any resulting capital gain or loss. Additional broker‑reporting obligations will apply to covered platforms starting in 2025 and 2026.

Mesh funding background

Mesh raised $75 million in a Series C round in January, valuing the company at $1 billion. Investors include Dragonfly Capital, Paradigm, Moderne Ventures, Coinbase Ventures, SBI Investment and Liberty City Ventures.