- Zerohash secures $104 million in Series D funding, valuing the crypto startup at $1 billion.
- Interactive Brokers leads the round; Apollo and other strategic investors join.
- Zerohash expands cryptocurrency trading, stablecoin products, and tokenization services.
Chicago-based crypto infrastructure startup Zerohash has closed a $104 million funding round backed by major financial institutions, including Morgan Stanley and SoFi.
The Series D round, led by global automated brokerage Interactive Brokers, values the company at $1 billion, founder and CEO Edward Woodford told CNBC in an interview.
Interactive Brokers leads a round with strategic investors
This latest financing highlights growing interest from traditional financial firms in blockchain-based infrastructure.
Interactive Brokers led the Series D and is already a Zerohash customer, using the company’s services for cryptocurrency trading and custody.
Woodford said the investment represents not only capital support but also a deepening of client relationships.
Funds managed by Apollo participated in the round alongside a mix of strategic investors who are both customers and backers of the company.
While Woodford declined to name specific clients, he suggested additional announcements are likely.
“These groups are not VCs,” he said. “You can assume there are obviously some announcements to be made with these other investors.”
Zerohash’s deliberate focus on partnering with established financial brands was part of its strategy.
“We wanted to lean on the largest, most trusted brands in the world and make that the bridge to this new technology,” Woodford told CNBC.
Shifts in cryptocurrency regulation
The fundraising comes amid a rapid shift in the U.S. regulatory climate for cryptocurrencies.
Under President Donald Trump’s administration, federal policy moved from skepticism toward more active support for digital assets.
This marks a departure from the tougher stance previously taken by then-SEC Chair Gary Gensler toward crypto firms.
Since the regulatory pivot earlier this year, CEOs of major banks and financial firms have signaled renewed interest in digital assets.
Leaders at Morgan Stanley and Bank of America have expressed confidence about increasing their involvement in the space.
SoFi CEO Anthony Noto also told CNBC in April that his company was preparing to reintroduce cryptocurrency trading following the regulatory changes.
Broader institutional adoption has opened opportunities for companies like Zerohash to attract capital and expand partnerships.
The more favorable environment has allowed crypto infrastructure firms to grow at the intersection of traditional finance and blockchain technology.
Expansion into trading, stablecoins, and tokenization
Founded in 2017, Zerohash provides back-end infrastructure that enables banks and fintechs to offer blockchain-based products.
The company’s services focus on three core areas: cryptocurrency trading, stablecoins, and tokenization.
Woodford said part of the Series D proceeds will accelerate adoption across those three verticals.
Interactive Brokers is already working with Zerohash to launch a stablecoin product in addition to using its trading and custody solutions.
Woodford declined to confirm whether Morgan Stanley and SoFi are also Zerohash clients but indicated more collaborations are likely.
Morgan Stanley and SoFi declined to comment.
With this new funding and a $1 billion valuation, Zerohash joins a wave of private and public companies benefiting from renewed institutional and regulatory support for digital assets.
The company’s partnership-driven model with established financial players illustrates how blockchain infrastructure is increasingly being integrated into mainstream finance.