TechFlow news, October 30 — According to Fortune, Mastercard is in late-stage talks to acquire Zerohash, a startup focused on cryptocurrency and stablecoin infrastructure, for between $1.5 billion and $2 billion. Five people familiar with the matter said the deal could still fall through, but if completed, it would represent one of Mastercard’s largest bets in the stablecoin space.
Founded in 2017 and based in Chicago, Zerohash specializes in building stablecoin and blockchain infrastructure, including payment and cryptocurrency trading capabilities. The company raised $104 million in funding in September, reaching a $1 billion valuation, with investors including Interactive Brokers, Apollo, Point72 Ventures, and Nyca.
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