Mastercard Eyes Strategic Stake in Zerohash Following Abandoned Buyout Talks - Crypto Economy

TL;DR

• Mastercard is considering a strategic investment in Zerohash following the collapse of acquisition talks.
• Zerohash provides custody, settlement, and fiat on-/off-ramp solutions for fintechs and brokers.
• The company raised $104 million in a Series D-2 round led by Interactive Brokers in 2025, reaching a $1 billion valuation.

Mastercard is exploring a strategic investment in Zerohash after acquisition discussions collapsed. The blockchain infrastructure company chose to remain independent, according to sources familiar with the matter. Previous negotiations reportedly valued the company at up to $2 billion, according to 2025 reports.

Zerohash’s decision not to sell is based on its operational structure. The company maintains that its team is central to its growth and that staying independent allows it to continue providing services to institutional clients and fintechs. A company spokesperson stated that Zerohash will continue expanding commercial partnerships while preserving its autonomy.


Zerohash Services

Zerohash offers custody, settlement, and fiat on-/off-ramp solutions. These tools allow fintechs and brokers to integrate digital assets without building infrastructure in-house. The platform serves clients including Interactive Brokers, Stripe, BlackRock BUIDL Fund, Franklin Templeton, and DraftKings, reaching over 5 million users across 190 countries.

The company raised $104 million in a Series D-2 round led by Interactive Brokers in October 2025, with participation from Morgan Stanley, Apollo-managed funds, SoFi, Jump Crypto, Northwestern Mutual Future Ventures, FTMO, IMC, and Liberty City Ventures. Existing investors PEAK6, tastytrade, and Nyca Partners also participated. The round brought Zerohash’s valuation to $1 billion.

Mastercard declined to comment on the potential investment. M&A activity in the crypto industry is increasingly focused on established infrastructure projects with revenue and regulatory compliance. Targeted acquisitions include licensed exchanges and brokers, institutional custody and staking providers, and data and compliance firms.


Mastercard and Coinbase Hunting Crypto Companies

Reports indicate that both Mastercard and Coinbase considered acquiring BVNK, a London-based fintech specializing in stablecoin payment infrastructure. A Zerohash acquisition would have ranked among the largest deals in terms of value and blockchain infrastructure reach.

Founded in 2017, Zerohash provides APIs and embeddable developer tools that allow financial institutions and fintechs to integrate crypto, stablecoins, and tokenization services into their products. The company combines backend custody, settlement, and fiat gateway services with support for institutional clients across multiple jurisdictions, targeting global markets.

If the strategic investment by Mastercard proceeds, it would focus on expanding the commercial relationship with Zerohash without compromising the company’s independence.