- Zerohash raised $104 million in a Series D round, valuing the crypto infrastructure startup at $1 billion.
- Interactive Brokers led the round; Apollo and other strategic investors participated.
- Zerohash is expanding crypto trading, stablecoin services and tokenization offerings.
Chicago-based crypto infrastructure startup Zerohash has secured $104 million in new funding, drawing investment from several leading financial institutions, including Morgan Stanley and SoFi.
The Series D round was led by global automated trading firm Interactive Brokers and values Zerohash at $1 billion, CEO and founder Edward Woodford told CNBC.
Interactive Brokers leads round with strategic investors
The latest funding highlights growing interest from established financial firms in blockchain-based infrastructure.
Interactive Brokers led the Series D round and is already a Zerohash client, relying on the company for crypto trading and custody services.
CEO Edward Woodford said the investment represents not only capital support but also a deepening of customer relationships.
Funds managed by Apollo also took part in the financing, alongside a mix of strategic investors who are existing customers and supporters of the company.
Woodford declined to name specific client firms involved, but he indicated additional announcements from some of these investors are likely.
“This group is not VCs,” he said. “You can assume there will be some forthcoming announcements with these other investors.”
Zerohash’s deliberate focus on partnering with well-known financial names is intentional.
“We want to bring in the world’s largest, most trusted brands and make them a bridge into this new technology,” Woodford told CNBC.
Shifting crypto regulation
The fundraising comes amid a rapid shift in the U.S. regulatory climate for cryptocurrencies.
Under President Donald Trump, federal policy has moved from skepticism toward active support for digital assets.
The shift marks a break from the stance of former Securities and Exchange Commission Chairman Gary Gensler, who often took a strict approach to crypto firms.
Since the regulatory pivot earlier this year, CEOs of major banks and financial firms have signaled renewed interest in digital assets.
Executives at Morgan Stanley and Bank of America have expressed confidence that their firms will increase involvement in the space.
SoFi CEO Anthony Noto also told CNBC in April that the company is preparing to reintroduce crypto trading following the regulatory changes.
This broader institutional acceptance has opened the door for firms like Zerohash to attract capital and expand partnerships.
A more supportive environment has given crypto infrastructure companies additional room to grow at the intersection of traditional finance and blockchain technology.
Expanding across 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 span three core areas: crypto trading, stablecoin issuance and tokenization.
Woodford said part of the Series D proceeds will be used to accelerate adoption across all three verticals.
Interactive Brokers already works with Zerohash to launch a stablecoin product in addition to using the company’s trading and custody services.
Woodford declined to confirm whether Morgan Stanley and SoFi are also clients but suggested further collaborations could follow.
Both Morgan Stanley and SoFi declined to comment.
With new funding and a billion-dollar valuation, Zerohash joins a wave of private and publicly traded firms benefiting from institutional support and renewed regulatory clarity for digital assets.
The company’s model of partnering with established financial players illustrates how blockchain infrastructure is becoming increasingly integrated with mainstream finance.