Mastercard reportedly in talks to acquire crypto infrastructure firm ZeroHash
Mastercard is reportedly in advanced discussions to acquire ZeroHash, a leading crypto and stablecoin infrastructure startup, in a deal valued between $1.5 billion and $2 billion, according to Fortune. While the talks are in their final stages, sources say the agreement has not yet been finalized and could still fall through.
When contacted by PYMNTS, ZeroHash declined to comment on what it called “rumors or speculation,” while Mastercard also refused to provide a statement regarding the potential acquisition.
What ZeroHash does
Founded in 2017, ZeroHash provides back-end infrastructure that enables companies to offer crypto-related products and services — including stablecoin support, crypto trading platforms, and APIs for tokenization. In essence, it helps traditional financial institutions and fintechs integrate digital asset capabilities into their offerings without needing to build the technology from scratch.
The company has experienced rapid growth in 2024, driven by increasing enterprise demand for on-chain infrastructure and clearer regulations in both the U.S. and Europe.
Recent funding and expansion
In September, ZeroHash announced it had raised $104 million in a Series D-2 funding round to accelerate its product expansion and expand its workforce.
“This raise, and the caliber of our investors and clients, is testament to the trust we’ve built,” said Edward Woodford, founder and CEO of ZeroHash, in the announcement. “Crypto, stablecoins, and tokenization aren’t the future — they’re already here. ZeroHash is the engine working behind the scenes to power that transformation.”
Key partnerships and projects
ZeroHash has been steadily expanding its partnerships across major financial players:
- Morgan Stanley’s E-Trade: On September 23rd, reports emerged that ZeroHash is collaborating with Morgan Stanley to help E-Trade launch cryptocurrency trading by early 2026. The service will initially allow clients to buy and sell Bitcoin, Ether, and Solana.
- OnePay (a Walmart-backed fintech): On October 3rd, it was revealed that ZeroHash will also provide crypto trading and custody infrastructure for OnePay, enabling users to access Bitcoin and Ether through the app by the end of 2025.
Mastercard’s broader crypto push
This potential acquisition fits squarely within Mastercard’s growing interest in blockchain and digital assets. Earlier in October, Fortune reported that Mastercard and Coinbase were both exploring a bid to acquire BVNK, another fintech specializing in stablecoin payment infrastructure. BVNK’s technology helps businesses accept and process payments using stablecoins — a sector Mastercard has been steadily moving into as it seeks to bridge traditional finance with digital currency ecosystems.
If finalized, the acquisition of ZeroHash would give Mastercard a powerful foothold in crypto infrastructure, potentially allowing it to offer tokenization and digital asset services directly to banks, payment processors, and fintechs worldwide.
While neither company has confirmed the deal, industry analysts say the move would represent a major step in Mastercard’s strategy to remain a key player in the evolving world of digital payments.
