Funding round draws Morgan Stanley, SoFi and Apollo, underscoring rising demand for regulated on-chain infrastructure
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Zerohash, a U.S.-based provider of crypto and stablecoin infrastructure, announced on Tuesday that it has raised $104 million in a Series D-2 funding round led by Interactive Brokers.
The round also included first-time crypto investments from institutions such as Morgan Stanley, Apollo-managed funds, and SoFi, alongside Jump Crypto, Northwestern Mutual Future Ventures and Liberty City Ventures. Existing backers including PEAK6 and Nyca Partners also participated.
The raise brings Zerohash’s total funding to $275 million and values the company at $1 billion.
Founded in 2017, Zerohash builds application programming interfaces (APIs) and compliance-ready infrastructure that allow businesses to integrate trading, stablecoin payments, tokenization, and settlement into their platforms.
The company says its infrastructure has already enabled more than five million users across 190 countries through partners such as Stripe, DraftKings, Franklin Templeton and BlackRock’s BUIDL Fund.
Zerohash executives positioned the firm as the “AWS of on-chain infrastructure,” citing demand from traditional banks and brokerages seeking to expand into stablecoins and tokenized assets.
Morgan Stanley’s investment in Zerohash appears directly aligned with its digital asset strategy. The bank recently disclosed plans to roll out crypto trading for E-Trade clients in early 2026, relying on Zerohash for liquidity, custody, and settlement, according to an internal memo reported by CNBC.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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