Zero Hash
Also a provider — view Zero Hash’s profile →“Can one regulated API become the default embedded crypto, stablecoin, and tokenization layer for every bank, brokerage, and fintech?”
Founded2017
HQChicago, Illinois, USA
FoundersEdward Woodford
Total raised~$270M+
Latest round$104M (2025), led by Interactive Brokers
Valuation$1B+ (2025)
IndustryInfrastructure / Crypto
The story
Founded 2017 as a crypto settlement platform, Zero Hash pivoted into a full crypto/stablecoin/tokenization infrastructure API for regulated financial institutions. The 2022 Series D funded expansion of the regulated stack (custody, trading, on/off-ramp), and by 2025 the company had positioned itself as the institutional-grade back-end powering crypto for Stripe, Interactive Brokers, Morgan Stanley E*Trade, MoneyLion, Visa Direct, and OnePay. Recent focus has shifted toward stablecoin payments/payouts and tokenization as the higher-growth wedges.
Last 12 months
Product timeline
2017
Founded in Chicago as a crypto settlement / infrastructure platform.· launch
2022
Raised $105M Series D at $340M valuation from Point72, Bain Capital Ventures.· funding
2024
Expanded into stablecoin infrastructure and tokenization partnerships (Securitize, BlackRock, Franklin Templeton).· product
2025
Raised $104M led by Interactive Brokers at $1B+ valuation; Morgan Stanley selected Zero Hash for E*Trade crypto.· funding
2026
Announced partnership with Marqeta to enable stablecoin spending across global card networks; powers Visa Direct stablecoin capabilities.· product
Regulated entities
3
regulatory licences held by Zero Hash
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
12 layers disclosed in Zero Hash’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Ledger
in the full report
Lending
in the full report
Payroll
in the full report
Open banking
in the full report
KYC
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: minor
16 more providers across 11 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.