Zerohash seeks $1.5B+ valuation in fresh funding round after Mastercard walks away.

Crypto infrastructure firm Zerohash is pursuing a new funding round at a valuation exceeding $1.5 billion, after Mastercard abandoned plans to invest in the company. The payments giant's exit came after it acquired BVNK, a stablecoin infrastructure provider, for $1.8 billion — effectively choosing to build its own crypto rails rather than back a third party.

Zerohash was last valued at $1 billion following a $104 million Series D-2 round completed in September 2025, led by Interactive Brokers. The new target valuation represents a 50% step-up from that mark, a bold ask given the circumstances of Mastercard's departure.

The episode highlights a recurring tension in crypto infrastructure: large financial institutions are increasingly deciding to acquire rather than invest, leaving mid-stage companies to find alternative capital at higher price tags.