Insider: Stablecoin Infrastructure Zerohash to Raise $100 Million in Funding at $1 Billion Valuation

July 12th, according to Fortune citing sources familiar with the matter, cryptocurrency and stablecoin infrastructure startup Zerohash is set to close a funding round of about $100 million, with a valuation close to $1 billion. Online brokerage firm Interactive Brokers leads this funding round.

Reportedly, Zerohash provides backend infrastructure support for banks, brokerages, and fintech companies for digital assets such as cryptocurrencies and NFTs, and has grown to become a key player in the stablecoin space. Its core operations include partnering with Stripe to facilitate fiat-to-stablecoin exchanges through a network of banking relationships and regulatory licenses. It has helped traditional financial institutions like BlackRock and Franklin Templeton participate in tokenization initiatives and has provided stablecoin exchange services to clients like the prediction market Kalshi and digital bank MoneyLion.