Zerohash, previously known as Zero Hash, is reportedly planning to raise about USD 100 million in a funding round that could value the company at nearly USD 1 billion. According to sources familiar with the matter, cited by Fortune, Interactive Brokers is leading this fundraising effort.
No official comments were provided by representatives from Zerohash or Interactive Brokers on this news.
This funding comes after Zerohash’s Series D round in 2022, which brought in USD 105 million from investors like Bain Capital, Nyca, and Point72 Ventures. The Series D round was valued at USD 340 million according to data from PitchBook.
Services and Partnerships
Zerohash offers backend infrastructure enabling banks, brokerages, and fintech companies to provide cryptocurrencies, NFTs, and other digital assets to their clients. The company is particularly positioned as a key player in the growing stablecoin market, where cryptocurrencies are linked to underlying assets like the USD.
Zerohash has partnered with Stripe to help financial technology clients transition from cash to stablecoins by leveraging Zerohash’s extensive network of banking relationships and regulatory licenses. It also collaborates with Securitize, another crypto startup, assisting traditional financial providers such as BlackRock and Franklin Templeton in entering the tokenization space.
This partnership allows Zerohash’s clients to exchange stablecoins for tokenized assets. Notable clients include the prediction marketplace Kalshi and neobank MoneyLion.
Stablecoin Market Trends
Zerohash is among several other stablecoin startups attracting significant venture capital interest, including Stripe’s acquisition of Bridge in October 2024 for USD 1.1 billion. Other notable companies like BVNK and Agora have also secured substantial funding recently.
The renewed focus on stablecoins is driven by rising Bitcoin prices and Circle’s successful initial public offering (IPO), which has seen its stock value increase significantly. Recent regulatory developments, such as a Senate bill on crypto asset regulation, have further fueled interest, with big tech companies like Walmart, Amazon, and Apple exploring the integration of stablecoins.
Unlike Agora, which issues stablecoins, Zerohash supports the stablecoin ecosystem by providing tools for developers to facilitate the transition between cash and stablecoins, addressing growing market demands in this sector.