Key Takeaways
- • Zerohash is pursuing $250 million in new funding at a $1.5 billion valuation after walking away from Mastercard acquisition discussions that valued the company at approximately $2 billion.
- • The blockchain infrastructure firm rejected the higher Mastercard acquisition offer to remain independent, signaling confidence in standalone growth prospects amid rising institutional demand for crypto infrastructure.
- • Mastercard is still evaluating a strategic investment in Zerohash despite the failed takeover, indicating continued interest in the company's stablecoin and tokenization capabilities.
- • Zerohash's $250 million raise follows a $104 million Series D-2 round in October led by Interactive Brokers that valued the company at $1 billion, with participation from marquee investors including Morgan Stanley, Apollo-managed funds, and BlackRock ecosystem partners.
- • The financing reflects strong institutional appetite for enterprise-grade crypto infrastructure as financial institutions accelerate adoption of tokenized assets, stablecoins, and onchain settlement at scale.
Summary
Zerohash, a blockchain infrastructure firm founded in 2017, is in active discussions to raise $250 million at a $1.5 billion valuation after choosing to exit acquisition negotiations with Mastercard. According to CoinDesk reporting, the company recently walked away from the payments giant's takeover offer, which Fortune initially reported in October as valuing Zerohash at up to $2 billion. Despite the termination of acquisition talks, Mastercard remains engaged with the firm and is currently evaluating a strategic investment, though discussions remain in preliminary stages.
The decision to pursue independent funding rather than accept Mastercard's acquisition offer reflects management confidence in Zerohash's standalone growth trajectory. The company operates a B2B embedded infrastructure platform offering APIs and developer tools that enable financial institutions and fintechs to integrate cryptocurrency, stablecoin, and tokenization products into their own platforms. Current client relationships include Interactive Brokers, Stripe, BlackRock's BUIDL fund, Franklin Templeton, and DraftKings, with the platform serving more than 5 million users across 190 countries.
Zerohash's current funding round builds momentum from its October Series D-2 financing of $104 million, which achieved unicorn status at a $1 billion valuation. That round attracted substantial institutional backing, including Interactive Brokers as lead investor, alongside new investors Morgan Stanley, Apollo-managed funds, SoFi, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, and IMC. Existing shareholders PEAK6, tastytrade, and Nyca Partners also participated, underscoring consistent support from diversified institutional capital.
The timing of this financing reflects broader market dynamics in which established financial institutions are accelerating infrastructure investments to support tokenized assets and stablecoin adoption. As enterprise demand accelerates for compliant, scalable onchain settlement rails, Zerohash's positioning as a regulated money services business and money transmitter operating in 51 U.S. jurisdictions positions it competitively. The $1.5 billion valuation represents a 50 percent increase from the October round, though notably below the $2 billion Mastercard acquisition price, suggesting either market valuation discipline or strategic flexibility in the ongoing discussions.
The decision to pursue independent funding rather than accept Mastercard's acquisition offer reflects management confidence in Zerohash's standalone growth trajectory. The company operates a B2B embedded infrastructure platform offering APIs and developer tools that enable financial institutions and fintechs to integrate cryptocurrency, stablecoin, and tokenization products into their own platforms. Current client relationships include Interactive Brokers, Stripe, BlackRock's BUIDL fund, Franklin Templeton, and DraftKings, with the platform serving more than 5 million users across 190 countries.
Zerohash's current funding round builds momentum from its October Series D-2 financing of $104 million, which achieved unicorn status at a $1 billion valuation. That round attracted substantial institutional backing, including Interactive Brokers as lead investor, alongside new investors Morgan Stanley, Apollo-managed funds, SoFi, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, and IMC. Existing shareholders PEAK6, tastytrade, and Nyca Partners also participated, underscoring consistent support from diversified institutional capital.
The timing of this financing reflects broader market dynamics in which established financial institutions are accelerating infrastructure investments to support tokenized assets and stablecoin adoption. As enterprise demand accelerates for compliant, scalable onchain settlement rails, Zerohash's positioning as a regulated money services business and money transmitter operating in 51 U.S. jurisdictions positions it competitively. The $1.5 billion valuation represents a 50 percent increase from the October round, though notably below the $2 billion Mastercard acquisition price, suggesting either market valuation discipline or strategic flexibility in the ongoing discussions.
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