Key Takeaways
- • Zerohash is pursuing a new funding round at a valuation exceeding $1.5 billion after Mastercard abandoned investment plans, signaling continued institutional confidence in crypto infrastructure despite the failed strategic partnership.
- • Mastercard acquired U.K.-based BVNK for $1.8 billion in March 2026, effectively replacing its earlier consideration of a strategic investment or acquisition of Zerohash, which had been valued at up to $2 billion in acquisition talks.
- • The Chicago-based infrastructure provider is raising approximately $250 million in the new funding round, maintaining or increasing its valuation relative to January 2026 discussions when it was last said to be fundraising at $1.5 billion.
- • Zerohash's platform serves over 5 million users across 190 countries and counts major institutional clients including Morgan Stanley, Interactive Brokers, Stripe, BlackRock's BUIDL fund, Franklin Templeton, and DraftKings, demonstrating significant market traction in the digital asset ecosystem.
- • The development reflects broader momentum in crypto dealmaking as Wall Street deepens its push into digital assets, with exchanges, infrastructure providers, and fintech firms actively expanding capabilities through acquisitions and strategic investments.
Summary
Zerohash, a Chicago-based crypto and blockchain infrastructure provider, is pursuing a new funding round at a valuation exceeding $1.5 billion following Mastercard's decision to abandon investment plans in the company. According to sources with knowledge of the matter, the fundraise targets approximately $250 million at the elevated valuation, representing a continuation or modest increase from earlier discussions in January 2026 when the company was said to be in talks to raise capital at the $1.5 billion mark.
Mastercard's withdrawal from the Zerohash opportunity came after the payments processor's decision to pursue an alternative strategic direction in the cryptocurrency infrastructure space. In March 2026, Mastercard completed its $1.8 billion acquisition of BVNK, a U.K.-based stablecoin infrastructure firm, effectively repositioning its digital asset strategy. This followed an earlier phase of negotiations in which Fortune reported in October 2025 that Mastercard had been in advanced acquisition talks with Zerohash for a deal valued at up to $2 billion. When Zerohash withdrew from those discussions, Mastercard shifted its focus to BVNK as the vehicle for establishing its crypto infrastructure footprint.
Founded in 2017, Zerohash provides APIs and embeddable developer tools enabling financial institutions and fintechs to integrate crypto, stablecoin, and tokenization capabilities into their platforms. The company's infrastructure reaches more than 5 million users across 190 countries and counts a blue-chip roster of institutional clients. Morgan Stanley, Interactive Brokers, Stripe, BlackRock's BUIDL fund, Franklin Templeton, and DraftKings are among the notable firms utilizing Zerohash's platform, underscoring substantial institutional adoption in the digital asset ecosystem.
The decision to pursue new funding at a higher valuation despite the failed Mastercard partnership reflects investor confidence in Zerohash's market position and the broader institutional acceleration into cryptocurrency and blockchain infrastructure. This activity occurs within a context of accelerating crypto dealmaking activity across 2026, as established financial services firms, exchanges, and fintech providers race to expand their digital asset capabilities. The funding round signals that Zerohash maintains significant appeal to alternative investors and institutional capital even after the high-profile strategic opportunity with Mastercard dissolved, positioning the company to capitalize on ongoing Wall Street demand for robust crypto infrastructure solutions.
Mastercard's withdrawal from the Zerohash opportunity came after the payments processor's decision to pursue an alternative strategic direction in the cryptocurrency infrastructure space. In March 2026, Mastercard completed its $1.8 billion acquisition of BVNK, a U.K.-based stablecoin infrastructure firm, effectively repositioning its digital asset strategy. This followed an earlier phase of negotiations in which Fortune reported in October 2025 that Mastercard had been in advanced acquisition talks with Zerohash for a deal valued at up to $2 billion. When Zerohash withdrew from those discussions, Mastercard shifted its focus to BVNK as the vehicle for establishing its crypto infrastructure footprint.
Founded in 2017, Zerohash provides APIs and embeddable developer tools enabling financial institutions and fintechs to integrate crypto, stablecoin, and tokenization capabilities into their platforms. The company's infrastructure reaches more than 5 million users across 190 countries and counts a blue-chip roster of institutional clients. Morgan Stanley, Interactive Brokers, Stripe, BlackRock's BUIDL fund, Franklin Templeton, and DraftKings are among the notable firms utilizing Zerohash's platform, underscoring substantial institutional adoption in the digital asset ecosystem.
The decision to pursue new funding at a higher valuation despite the failed Mastercard partnership reflects investor confidence in Zerohash's market position and the broader institutional acceleration into cryptocurrency and blockchain infrastructure. This activity occurs within a context of accelerating crypto dealmaking activity across 2026, as established financial services firms, exchanges, and fintech providers race to expand their digital asset capabilities. The funding round signals that Zerohash maintains significant appeal to alternative investors and institutional capital even after the high-profile strategic opportunity with Mastercard dissolved, positioning the company to capitalize on ongoing Wall Street demand for robust crypto infrastructure solutions.
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