Zerohash, a crypto and stablecoin infrastructure provider, has collected $ 104 million in a series D-2 round led by interactive brokers (IBKR) who rated the company for $ 1 billion.
The increase included new participation from Morgan Stanley (MS), Apollo-managed funds, Sofi (Sofi), Jump Crypto, Northwestern Mutual Future Ventures, FTMO, IMC and Liberty City Ventures along with existing Backers Peak6, Tastytrade and NYCA partners, says the company in a press release on Tuesday.
The fresh capital brings Zerohash’s total funding to $ 275 million and will fuel product expansion, talent growth and its ambition to become “AWS for infrastructure for chain,” CEO and founder Edward Woodford said in the release.
The rash marks the first crypto and stablecoin investments for several major players, signaling the growing demand from financial institutions to build on-chain solutions on scale.
Founded in 2017, Zerohash provides APIs and Embeddable Developer Tools that enable financial institutions and fintechs to offer crypto, stablecoin and tokenization products.
Its platform already drives solutions for interactive brokers, Stripe, Blackrocks Buidl Fund, Franklin Templeton and Draftkings, serving more than 5 million users in 190 countries.
Fundraising comes as the demand for crypto-infrastructure for corporate quality is growing, with several financial institutions seeking to offer tokenized assets, stablecoins and on-chain launching on scale.
Read more: Morgan Stanley Crypto Trading ambitions that go closer: Bloomberg
