Crypto infrastructure startup Zerohash has successfully secured $104 million in a new funding round, attracting support from leading financial institutions such as Morgan Stanley and SoFi, according to sources familiar with the matter.

The Series D round was spearheaded by Interactive Brokers, a globally recognized automated trading company, and included several strategic investors who are also current Zerohash clients, founder and CEO Edward Woodford shared in an interview. The latest funding brings Zerohash’s valuation to approximately $1 billion, signaling growing confidence in its technology and market position.

“Our goal was to partner with the world’s most trusted financial brands,” Woodford said. “We see them as a bridge connecting traditional finance to the next generation of blockchain-powered solutions.”

Investment funds managed by Apollo also participated in the round, highlighting continued institutional interest in the crypto sector.

Zerohash’s fundraising comes at a time when the U.S. crypto industry is experiencing a resurgence, fueled by a more favorable regulatory stance under President Donald Trump. The administration’s shift from the stringent policies of former SEC Chairman Gary Gensler to a more innovation-friendly approach has reignited enthusiasm across the financial sector.

Major Wall Street executives, including those from Morgan Stanley and Bank of America, have publicly voiced optimism about re-engaging with the digital asset space. Earlier this year, SoFi CEO Anthony Noto told CNBC that his company was preparing to reintroduce crypto trading, citing the improved regulatory landscape.

Founded in 2017, Zerohash provides a behind-the-scenes infrastructure that enables banks and fintech firms to integrate blockchain technology into their platforms. Its services focus on three main areas — crypto trading, stablecoin issuance, and tokenization — allowing institutions to offer digital asset products without building their own systems from scratch.

“This funding will help us accelerate adoption across all three segments,” Woodford explained. “Many of our investors are also our customers, which creates a unique alignment of interests.”

Interactive Brokers already partners with Zerohash to handle crypto trading and custody services, and the two companies are preparing to roll out a stablecoin product in the near future.

Although Woodford declined to confirm whether Morgan Stanley and SoFi are current clients, he hinted that official announcements could be forthcoming. Representatives from both firms declined to comment.

“These aren’t typical venture investors,” Woodford said. “You can safely assume that more collaboration news with these financial institutions is on the horizon.”

Later that day, an internal Morgan Stanley memo reportedly revealed that the bank is preparing to launch crypto trading via its E-Trade division, with Zerohash playing a key role in supporting the effort.

The funding round and potential partnerships mark a significant step in bridging the gap between traditional finance and digital asset innovation, positioning Zerohash as a pivotal player in the next phase of crypto’s institutional evolution.