Fast-growing crypto and stablecoin startup Zerohash raises $104 million

Core Insights - Institutional demand for blockchain technology has led to the emergence of a new unicorn, Zerohash, which raised $104 million at a $1 billion valuation [1][4] - Zerohash specializes in providing infrastructure for financial institutions and fintechs to develop products related to stablecoins, crypto trading, and tokenization [2] - The significant increase in Zerohash's valuation from $340 million in 2022 to $1 billion indicates a resurgence in the crypto market, supported by traditional finance institutions [4][5] Company Overview - Zerohash is a crypto and stablecoin infrastructure company based in Chicago, focusing on enabling financial institutions to create their own stablecoin and crypto trading products [1][2] - The company has evolved through various names and has consistently aimed to build crypto infrastructure for financial institutions since its inception [7] - The founder and CEO, Edward Woodford, has a background in finance and has been involved in the crypto space for nearly a decade [6][8] Investment Landscape - The funding round was led by Interactive Brokers, with participation from major financial players like Morgan Stanley, Apollo Global Management, and fintech SoFi [1][3] - The backing from traditional finance institutions reflects a shift in Wall Street's approach to digital assets, moving beyond initial skepticism [5][8] - The current regulatory environment under President Donald Trump is seen as favorable for financial institutions to engage more actively in the crypto space [8]