Sources say that stablecoin infrastructure Zerohash will raise $100 million at a $1 billion valuation.

On July 12, according to a Fortune report citing sources familiar with the matter, cryptocurrency and stablecoin infrastructure startup Zerohash is about to complete a financing round of approximately $100 million, with a valuation close to $1 billion. The round is led by Interactive Brokers, a listed online brokerage firm.

It is reported that Zerohash provides backend infrastructure support for digital assets such as cryptocurrencies and NFTs for banks, brokers, and fintech companies, and has now developed into an important player in the stablecoin field. Its core business includes partnering with Stripe to achieve fiat-to-stablecoin exchange through a network of banking relationships and regulatory licenses. It assists traditional financial institutions such as BlackRock and Franklin Templeton in participating in the tokenization competition, and provides stablecoin exchange services for clients such as prediction market Kalshi and digital bank MoneyLion.