ZeroHash is actively seeking new funding at a valuation exceeding $1.5 billion, following Mastercard’s recent withdrawal from earlier investment discussions. As the crypto infrastructure firm pushes forward with its capital raise, it finds itself in a rapidly evolving landscape where financial institutions are increasingly focusing on digital assets, stablecoins, and tokenized markets.
Previously, Mastercard had shown interest in investing in the Chicago-based company, with discussions suggesting a potential acquisition could have valued ZeroHash at up to $2 billion. However, the payments giant ultimately redirected its efforts towards acquiring BVNK, a U.K.-based stablecoin infrastructure firm, in a substantial $1.8 billion deal, effectively ending its pursuit of ZeroHash.
In light of Mastercard’s decision, ZeroHash is now targeting a valuation higher than the $1.5 billion figure discussed earlier this year. The company was previously valued at $1 billion in September 2025 after successfully raising $104 million in a Series D-2 funding round led by Interactive Brokers.
Mastercard’s Strategic Shift Following BVNK Acquisition
Mastercard’s decision to withdraw its interest in ZeroHash came on the heels of its agreement to acquire BVNK. This strategic move enables Mastercard to directly enter the stablecoin payment services market, aligning with the broader trend of traditional payment companies expanding their digital asset operations.
While ZeroHash has opted not to comment on ongoing fundraising discussions, Mastercard has remained silent on the matter as of publication. Nevertheless, the cessation of Mastercard’s interest has not deterred ZeroHash from seeking fresh capital from other potential investors.
This fundraising effort comes at a time when the crypto infrastructure sector is buzzing with activity. Exchanges, payment firms, and fintech companies are actively searching for services that can facilitate custody, settlement, tokenization, trading, and stablecoin payments.
ZeroHash’s Expansion in Institutional Crypto Services
Founded in 2017, ZeroHash specializes in providing application programming interfaces and embedded tools that empower banks, brokerages, and fintech platforms to offer crypto products. Its comprehensive services support digital asset trading, stablecoin transactions, and tokenization tools tailored for business clients.
Currently, ZeroHash boasts a user base of over 5 million individuals across 190 countries. Notable clients include major firms such as Morgan Stanley, Stripe, Interactive Brokers, Franklin Templeton, DraftKings, and BlackRock’s BUIDL fund.
Recently, new details surrounding ZeroHash’s partnership with Morgan Stanley emerged. This collaboration enables wealth management clients to access Bitcoin, Ethereum, and Solana through Morgan Stanley platforms, with ZeroHash supplying the embedded backend infrastructure.
ZeroHash is also making strides towards a stronger regulatory footing in both the United States and Europe. The firm has applied for a national trust bank charter from the U.S. Office of the Comptroller of the Currency. If granted, this charter could provide ZeroHash with access to a Federal Reserve master account, potentially enhancing the speed of transactions between fiat and digital assets.
European Licenses Bolstering Growth Plans
On May 18, 2026, ZeroHash Europe secured an Electronic Money Institution (EMI) license from the Dutch Central Bank, complementing its earlier achievement of obtaining a Markets in Crypto-Assets Regulation (MiCAR) license. This dual licensing status marks ZeroHash as the first crypto infrastructure firm to hold both authorizations in Europe.
This regulatory framework allows ZeroHash to facilitate electronic money and stablecoin payment flows throughout the European Economic Area, positioning the company favorably to serve banks, payment firms, and fintech platforms seeking compliant crypto infrastructure in the region.
As interest in crypto infrastructure continues to rise, large financial institutions are increasingly looking to build digital asset products for their clients. Rather than creating standalone crypto platforms, many firms are turning to backend providers like ZeroHash to integrate trading, custody, settlement, and compliance tools into their existing services.
