Interactive Brokers Leads ZeroHash to $1B Valuation

Introduction

ZeroHash secured a $104 million Series D-2 led by Interactive Brokers, lifting total funding to $275 million to expand regulated crypto, stablecoin, and tokenization infrastructure for financial institutions at a global scale. The round signals accelerated enterprise adoption as major players like Morgan Stanley, SoFi, and Apollo join, underscoring demand for compliant on-chain services and positioning ZeroHash as a leading “AWS of on-chain infrastructure.”

Funding and investors

The $104 million round was led by Interactive Brokers with new participation from Morgan Stanley, SoFi, Apollo-managed funds, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, IMC, and Liberty City Ventures, alongside existing backers PEAK6, tastytrade, and Nyca Partners. This brings ZeroHash‘s cumulative funding to $275 million and values the company at roughly $1 billion, marking one of 2025’s largest private raises in crypto and stablecoin infrastructure.

Why this round matters

Institutional investors are allocating into on-chain capabilities as regulatory clarity and operational maturity improve, creating pull for enterprise-grade APIs, custody, liquidity, and settlement. ZeroHash‘s infrastructure already powers brands like Interactive Brokers, Stripe, Franklin Templeton, and BlackRock’s BUIDL fund, indicating proven integrations across trading, payments, and tokenized assets.

Product scope and positioning

ZeroHash provides a crypto API provider platform and embeddable dev kit enabling trading, stablecoin infrastructure, tokenization platform features, cross-border payments crypto, and on/off-ramps within regulated workflows. Executives frame the business as blockchain payment rails for on-chain financial services, emphasizing scalability, compliance, and speed to market for enterprises.

Regulatory and trust signals

Zero Hash LLC is a FinCEN-registered Money Service Business, a regulated Money Transmitter in 51 U.S. jurisdictions, and holds New York virtual currency licensure, reinforcing regulated crypto infrastructure credibility. Zero Hash Trust Company LLC is chartered in North Carolina and approved to launch, enabling qualified custody for RIAs and supporting issuance and custody aligned with forthcoming U.S. market-structure legislation.

Client momentum and use cases

Interactive Brokers integrates ZeroHash for digital asset access and continues broadening token support, reflecting demand for integrated trading and custody in a single brokerage workflow. Core enterprise use cases span stablecoin payments, tokenized assets settlement, remittances, payroll, and commerce, aligning with institutional requirements for compliance-ready integration.

Market context and outlook

Coverage from Fortune, CNBC, and Blockworks highlights a reacceleration of institutional blockchain adoption and ZeroHash‘s emergence as a category leader. With more than five million users supported across 190 countries through partners, ZeroHash’s scale suggests continued growth as banks and brokerages operationalize on-chain strategies.