The brokerage firm that operates the largest US electronic trading platform by daily average revenue is reportedly leading a funding round for the crypto and stablecoin infrastructure startup Zero Hash.
Zero Hash provides the backend infrastructure that enables banks, brokerages and fintech companies offer cryptocurrencies, non-fungible tokens (NFTs) and other digital assets to their customers.
[adinserter block="1"]Citing sources familiar with the matter, Fortune reports that Zero Hash is poised to raise about $100 million at a nearly $1 billion valuation in a new funding round spearheaded by Interactive Brokers.
In 2022, the startup raised $105 million in a Series D round that saw the participation of the private investment firm Bain Capital, American hedge fund Point72 Ventures and fintech venture capital firm Nyca. Citing data from PitchBook, Fortune reports that Zero Hash was valued at $340 million after the Series D capital raise.
The latest push to raise additional capital comes amid the growing popularity of stablecoins – cryptocurrencies which are pegged to another asset such as the US dollar or commodities.
In 2022, the payment processing company Stripe tapped Zero Hash’s infrastructure to launch an embeddable and customizable fiat-to-crypto on-ramp solution. And in 2024, Zero Hash teamed up with Securitize, a real-world asset tokenization platform, to allow qualified institutions to convert the USDC stablecoin into US dollars.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Natalia Siiatovskaia/klyaksun
