Zerohash, a cryptocurrency and stablecoin infrastructure startup, has raised $104 million in a Series D-2 funding round, with backing from financial companies including Morgan Stanley and SoFi, CNBC reported on Tuesday.
The funding round was led by Interactive Brokers and values Zerohash at $1 billion.
The new $104 million raise brings Zerohash’s total funding to $275 million.
The company said will use the funds to accelerate product expansion, support talent growth, and further solidify its role in powering on-chain innovation for the world’s leading financial institutions.
“We are building the AWS of on-chain infrastructure,” Zerohash CEO Edward Woodford said in a statement.
“Crypto, stablecoins and tokenization aren’t coming - it’s here - and zerohash is the engine behind the scenes.”
Zerohash provides banks and fintech firms with the ability to offer blockchain-based products in three major areas: crypto trading, stablecoins and tokenization.
The company added that to date, it has supported more than five million users across 190 countries, powering solutions for companies such as Interactive Brokers, Franklin Templeton and DraftKings.