Zerohash Raises $104 Million to Expand On-Chain Infrastructure

Crypto and stablecoin infrastructure platform zerohash has raised $104 million in new funding.

This Series D-2 raise will help zerohash do things like speed product expansion and hire new talent, the company said in a news release Tuesday (Sept. 23).

The release notes that this round is happening amid a surge in demand for enterprise-grade on-chain infrastructure, triggered by a boom in consumer adoption and new regulatory clarity in key markets such as the U.S. and Europe.

“We are building the AWS of on-chain infrastructure,” zerohash founder and CEO Edward Woodford said, referring to Amazon Web Services.

“This raise, and the caliber of our investors and clients, is testament to the trust we’ve built. It further underscores the scale and the proven track record that we have developed since founding in 2017. Crypto, stablecoins and tokenization aren’t coming – it’s here – and zerohash is the engine behind the scenes.”

PYMNTS earlier this year explored blockchain’s potential for “compliant, mainstream use” in an interview with Chainalysis Co-founder and CEO Jonathan Levin.

“Banks are in the state where they are thinking about blockchains as public infrastructure that they need to rely on,” Levin told PYMNTS CEO Karen Webster.

In particular, Levin said the adoption of stablecoins is one of the most momentous shifts in blockchain usage, at least since his company began in 2014. The shift has been substantial, with hundreds of billions of dollars now moving across blockchains while being stored in traditional financial institutions such as banks or United States treasuries.

“When we started the business in 2014, that wasn’t yet a concept,” he said. “Cryptocurrency only meant blockchains that had native cryptocurrency tokens. Today, people are putting all types of financial instruments on the blockchain, including the U.S. dollar.”

More recently, PYMNTS wrote about a wave of late August funding rounds for companies in the crypto/blockchain infrastructure space.

Among them was Rain, which had raised $58 million to expand its global stablecoin infrastructure, especially facilitating enterprise and neobank access to on- and off-ramps, wallets, cards and cross-border rails.

“These capital injections underscore the industry’s focus not on novel brand tokens, but on plumbing like scalable, composable rails that enable seamless, cross-chain, cross-currency transaction flow,” that report said.