Zerohash is reportedly negotiating a $250 million funding round that would value the firm at $1,5 billion, according to reports. The capital push follows Zerohash’s decision to walk away from acquisition discussions with Mastercard and signals a move toward independent expansion of its enterprise crypto infrastructure business.
Reports indicate the proposed raise comes after Zerohash abandoned takeover talks with Mastercard, which had at times been linked to a potential deal in the roughly $1,5–$2,0 billion range. Instead of selling, Zerohash has chosen to pursue growth through private capital.
That marks a valuation lift from about $1,0 billion after a $104 million Series D‑2 round in October 2025, underscoring continued investor interest in the firm’s product set.
Zerohash provides APIs and developer tools for integrating trading, stablecoins and tokenization services, and already supports institutional clients cited in coverage such as Interactive Brokers, Stripe and BlackRock’s BUIDL fund.
Mastercard, while no longer pursuing a full takeover, is reportedly exploring a strategic investment, a shift that preserves a potential partnership without full integration into a payments giant.
Deal background and Zerohash positioning
The funding push and the recalibrated relationship with Mastercard matter beyond corporate M&A: they affect the supply of regulated rails and custody options available to institutional allocators. A successful $250 million raise would validate demand for enterprise-grade infrastructure and could ease counterparty and custody concerns that influence allocation decisions into crypto products.
For risk managers and traders, the development tightens the link between traditional payments networks and crypto plumbing. If Mastercard converts interest into capital, it could accelerate product integrations that reduce operational friction for large asset managers and broker-dealers.
Conversely, a stalled round or waning strategic interest would narrow some institutional paths and could increase hedging costs for desks that price in custody and counterparty risk.
Operationally, market participants should watch completion of the raise and any formal investment from Mastercard as near-term catalysts. Both outcomes will test appetite for enterprise crypto infrastructure and provide a clearer signal on institutional demand for regulated rails—information that traders and portfolio managers can use when sizing exposure and planning hedges tied to counterparty and custody risk.
If the round closes at the reported terms, it will reinforce the thesis that institutional infrastructure is a growth axis independent of outright consolidation.
