What to know:
- Zerohash eyeing new fund above $1.5 billion valuation as Mastercard backs out after BVNK acquisition.
- Valued at $1 billion after the completion of a $104 million Series D-2 funding round.
- Zerohash powers Morgan Stanley, Stripe, BlackRock, and Franklin Templeton and serves more than 5 million customers across 190 countries.
Crypto infrastructure company Zerohash is planning to raise new funds via the Zerohash fund initiative at a valuation exceeding $1.5 billion amid reports that payments giant Mastercard decided to pull out of investing in the company. The news follows a recent shift in Mastercard’s focus towards acquiring BVNK after completing the $1.8 billion BVNK acquisition deal.
Zerohash is currently looking to raise funds amid increasing interest among institutional investors to invest in crypto infrastructure companies. The company offers infrastructure services to power crypto trading, stablecoin payments, settlement, and tokenization of assets for fintech companies, brokerages, and financial institutions that wish to use regulated blockchain services.
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Mastercard Changes Strategy After BVNK Acquisition
Earlier this year, Mastercard was reportedly considering investing in Zerohash despite failed discussions for an acquisition deal between the two companies. Reports at the time suggested that Mastercard had considered the Zerohash fund to be valued at nearly $2 billion when negotiations ended and the payments giant focused instead on acquiring BVNK.
The acquisition of BVNK seems to have changed Mastercard’s approach to building its crypto infrastructure portfolio and has seen the company opt to acquire the relevant infrastructure rather than make minority investments in other companies. Mastercard has yet to make any official comments regarding reports about the halted investment negotiations.
At the same time, Zerohash is continuing discussions with new investors with regard to raising additional funding at valuations that exceed previous funding rounds. Mastercard has continued to develop its stablecoin programs through collaborations and blockchain settlement initiatives around the world. Mastercard revealed a partnership with Yellow Card to develop stablecoin payment solutions in Eastern Europe, the Middle East, and Africa.
Meanwhile, the stablecoin market capitalization currently stands at $323.11 billion, marking a remarkable 130% increase since 2024. This expansion has been driven primarily by improving global regulatory clarity and accelerating mainstream adoption.
Mastercard’s strategic move positions the company to capture a larger share of rapidly growing, 24/7 programmable payment flows without binding users to closed, proprietary ecosystems.
Institutional Demand Strengthens Zerohash Fund Growth Momentum
Zerohash was founded in 2017 and offers APIs and embedded infrastructure that enable banks, brokerages, and fintech companies to provide crypto trading and tokenization services. Among the clients of Zerohash are Morgan Stanley, Stripe, BlackRock, and Franklin Templeton, with the company serving more than five million customers across 190 countries.
The Zerohash fund has gained traction among institutional investors amid increased confidence in blockchain infrastructure providers due to the growing adoption of regulated digital assets in traditional financial markets. Zerohash fund’s last valuation came in at $1 billion following the completion of a $104 million Series D-2 funding round in September 2025 that was led by Interactive Brokers.
Investors in the series included SoFi and funds managed by Apollo Global Management. As the Zerohash fund proceeds with the new funding round, the valuation trajectory of the company remains closely watched by the market.
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