Zero Hash

Zero Hash (stylized zerohash) is an American financial technology company headquartered in Chicago that provides API-based infrastructure enabling banks, brokerages and fintech firms to offer cryptocurrency trading, StableCoin payments and tokenization to their own customers. The company operates a business-to-business model, supplying regulated back-end infrastructure to partner platforms rather than offering services directly to consumers. In September 2025 it raised funding at a valuation of $1 billion, reaching unicorn status.

History

Zero Hash originated as a settlement and custody product of Seed CX, a Chicago-based institutional cryptocurrency exchange. In June 2020, Seed CX announced that it would close its trading exchange to focus entirely on the Zero Hash settlement business, which the company said accounted for AbOUT 95% of its revenue at the time.

In January 2022, the company raised $105 million in a Series D funding round that included Bain Capital, Nyca Partners and Point72 Ventures, valuing it at $340 million.

In September 2025, Zero Hash raised $104 million in a round led by Interactive Brokers at a valuation of $1 billion. Participants included Morgan Stanley, SoFi, funds managed by Apollo Global Management and Jump Crypto. According to Fortune, the company had about 200 employees and had grown its revenue each year from 2022 through 2024 despite the wider downturn in cryptocurrency markets.

Operations

Zero Hash provides infrastructure across three areas, crypto trading, stablecoin payments and tokenization, delivered through APIs. Reported clients and partners include Interactive Brokers, Stripe and BlackRock, for which the company has supported tokenization of money market funds. In September 2025, Morgan Stanley announced that it would offer crypto trading through its E-Trade division using Zero Hash, with a rollout planned for the first half of 2026.