Zerohash expands crypto trading, stablecoins, and tokenization services.
Crypto infrastructure startup Zerohash has secured $104 million in fresh funding, drawing support from some of the world’s most prominent financial institutions, including Morgan Stanley and SoFi.
The Series D round, led by global automated trading firm Interactive Brokers, values the Chicago-based company at $1 billion, according to founder and CEO Edward Woodford in an interview with CNBC.
The latest funding round underscores the growing appetite among traditional financial firms for blockchain-based infrastructure.
Interactive Brokers led the Series D and already counts itself as a client of Zerohash, relying on the firm for crypto trading and custody.
CEO Edward Woodford said the new investment reflects not only capital support but also deepening client relationships.
Funds managed by Apollo also participated in the round, alongside a mix of strategic investors who are both customers and backers of the company.
While Woodford declined to specify which firms are clients, he indicated that further announcements could be forthcoming.
“These groups aren’t VCs,” he said. “You can assume that there’s obviously a couple of announcements coming down the road with these other investors.”
Zerohash’s focus on working with well-established names in finance was intentional.
“We wanted to raise from the largest, most trusted brands in the world and have that be the bridge into this new technology,” Woodford told CNBC.
The fundraiser comes amid a sharp change in the US regulatory climate for cryptocurrencies.
Under President Donald Trump, the federal government has pivoted from skepticism to active support for digital assets.
The shift marks a break from the stance of former Securities and Exchange Commission Chair Gary Gensler, who often took a hard line against crypto companies.
Since the regulatory pivot earlier this year, CEOs of major banks and financial firms have begun signaling renewed interest in digital assets.
Executives at Morgan Stanley and Bank of America have expressed confidence that they will become more involved in the space.
SoFi CEO Anthony Noto also told CNBC in April that his firm was preparing to reintroduce crypto trading following the regulatory shift.
This broader institutional embrace has paved the way for firms like Zerohash to attract capital and expand partnerships.
The supportive environment has given crypto infrastructure companies more room to grow at the intersection of traditional finance and blockchain technology.
Founded in 2017, Zerohash provides back-end infrastructure that enables banks and fintechs to offer blockchain-based products.
The company’s services span three key areas: crypto trading, stablecoins, and tokenization.
Woodford said part of the Series D funding will be used to accelerate adoption across all three verticals.
Interactive Brokers is already working with Zerohash to launch a stablecoin product, in addition to using the firm’s trading and custody services.
Woodford declined to comment on whether Morgan Stanley and SoFi are also clients but suggested that further collaborations are likely.
Both Morgan Stanley and SoFi declined to comment.
With its new funding and billion-dollar valuation, Zerohash joins a wave of both private and publicly traded companies benefiting from renewed institutional and regulatory support for digital assets.
The firm’s model of partnering with established financial players signals how blockchain infrastructure is increasingly being integrated into mainstream finance.
