PayPal-backed startup Mesh collaborates with Paribu in Turkey expansion

As a seasoned crypto investor with over two decades of experience navigating the ever-evolving digital asset landscape, I find this partnership between Mesh and Paribu particularly intriguing. Having witnessed numerous collaborations in the past, I can confidently say that this alliance could be a game-changer for Turkey’s burgeoning crypto market.


Financial technology company, Mesh, is teaming up with Turkish cryptocurrency platform, Paribu, to improve users’ ability to make smooth transactions within the web3 system more easily.

American fintech company Mesh, supported by PayPal Ventures, is collaborating with the centralized Turkish cryptocurrency exchange Paribu. The goal of this partnership is to improve the user experience within Turkey’s growing cryptocurrency market.

As stated in a press release on October 1st, the partnership marks Paribu as Mesh’s exclusive official exchange partner within the specified region. This collaboration enables users to utilize Mesh’s connectivity layer and interact with numerous platforms such as self-custodial wallets like MetaMask, numbering over hundreds.

1) Based on Chainalysis’ 2024 Global Cryptocurrency Adoption Ranking, Turkey comes in at 11th place worldwide, demonstrating the nation’s significant role within the global cryptocurrency market. Mesh explains that this partnership empowers Paribu users to manage their accounts directly through other platforms, allowing them to concentrate on pursuing their financial objectives without being concerned about lengthy crypto addresses, QR codes, or seed phrases.

Bam Azizi, Mesh CEO and co-founder, referred to the partnership as “crucial for molding the nation’s crypto acceptance trajectory.

Turkey pauses crypto tax

A collaboration arises under circumstances where Turkey’s Vice President, Cevdet Yilmaz, stated that the administration does not plan to levy a tax on cryptocurrency or stock market earnings in 2023.

After previously delaying plans for this specific tax in June due to a drop in the Turkish stock market, the current focus of the government is on improving existing tax laws and reducing tax exemptions. This shift suggests a more welcoming regulatory atmosphere for the cryptocurrency industry.

Yasin Oral, creator of Paribu, highlighted the significance of this partnership for fostering a more connected worldwide cryptocurrency network. He emphasized that the alliance serves to bridge the divide in “financial integration” by collaborating with over 300 significant entities within the web3 sector.

Established in 2020 by Bam Azizi and Adam Israel, Mesh garnered $22 million during its Series A financing round in September 2023. This substantial investment was spearheaded by Money Forward, with additional backing from investors like Galaxy and Samsung Next. Later on, the company also received funding from PayPal Ventures, which provided them with PayPal’s PYUSD stablecoin.

Read More

Sorry. No data so far.

2024-10-01 17:28