Stablecoin Infrastructure Startup Zerohash Nears Unicorn Status With $100M Funding Round

Key Points

1. Zerohash is raising approximately $100 million in a funding round, potentially valuing the company at nearly $1 billion.

2. The company previously secured $105 million in a Series D round in 2022, which valued it at $340 million.

3. Founded in 2017, Zerohash provides backend infrastructure for banks, brokerages, and fintech companies to offer cryptocurrencies, NFTs, and stablecoins.

4. The funding round reflects a broader trend of investment in stablecoin-related companies, such as BVNK, Mesh, and Agora.

5. Tether’s USDT and Circle’s USDC dominate the stablecoin market with market capitalizations of over $160 billion and around $62 billion, respectively.