In a pivotal moment, crypto startup Zerohash has raised $104 million in funding, led by prominent financial institutions including Morgan Stanley, SoFi, and Apollo. Founder and CEO Edward Woodford emphasized the importance of leveraging the largest trust brands to drive adoption across blockchain-based services such as crypto trading, stablecoins, and tokenization. The funds, managed by Apollo, were also part of a Series D round led by Interactive Brokers, a global automated trading firm, and strategic investors who are already partners with Zerohash. As President Donald Trump’s regulatory landscape shifted toward embracing cryptocurrencies, former SEC Chairman Gary Gensler’s administration signaled a new era for fintech. This change prompted leaders like Morgan Stanley and Bank of America to express confidence in their role in the digital economy. Meanwhile, SoFi CEO Anthony Noto announced plans to reintroduce crypto trading after the shift, citing increased regulatory support. Founded in 2017, Zerohash aims to provide banks and fintech companies with tools to offer blockchain products in three core areas: crypto trading, stablecoins, and tokenization. While Woodford acknowledged that the initial investment was focused on accelerating adoption, he noted that customers and investors will benefit from these advancements. The firm is already collaborating with Interactive Brokers to enhance its crypto trading platform and launching a stablecoin product with the firm, as stated by Woodford. However, Woodford declined to comment directly on whether Morgan Stanley or SoFi were clients, suggesting that announcements will follow. Spokespeople for both firms declined to respond, stating that these groups are not venture capital-backed and that there are likely multiple announcements in the coming weeks.
