CHICAGO, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Zero Hash today announced the close of its Series C funding round that was led by tastytrade, a Chicago-based holding company that owns major broker dealers including tastyworks and Dough, as well The Small Exchange. Existing investors also participated in the round including Bain Capital TradeStation, CMT Digital and Monday Capital.
Similar to how “Banking as a Service” enables companies to focus on building products, Zero Hash provides the infrastructure to settle digital assets in a completely automated and regulated way. Zero Hash’s client base, that it has publicly announced, includes payment service providers including Moonpay and Banxa, established broker dealers including TradeStation as well as some of the largest OTC groups globally.
Zero Hash will use the latest round of financing to enrich its feature base around its automated lending infrastructure as well as expand its product offering to include ACH processing. “We are pleased today to announce our fundraise. We believe our mission is particularly validated with the participation of some of our largest customers including TradeStation,” said Edward Woodford, Zero Hash’s co-founder and CEO. “Zero Hash converts high fixed costs and multi-year lead times both from a technical and regulatory perspective into variable costs, with accessibility to Finance 2.0 with a couple of lines of code.”
“We’re excited for our company to begin its journey into digital currencies with one of the brightest, most innovative startups in the world of digital asset settlement,” says Tom Sosnoff, tastytrade’s Founder and Co-CEO. “Zero Hash offers the complete solution for trading and moving digital assets and we’re committed to exploring this domain through our investment.”
Key features of Zero Hash include:
- Identity: Verify users’ identities, with KYC/AML requirements under the BSA.
- Balance: Verify real-time account balances and deposits across all assets, with ownership validation.
- Lock: Lock and unlock the withdrawals of assets in real time for committed and exited transactions.
- Transfer: Transfer the ownership of assets with Zero Hash providing the regulatory framework to serve 97%+ of the US population. All transfers can be automated with a full screening of assets to ensure compliance and peace of mind.
- Transactions: Access detailed transaction history with real time transaction updates across 1000+ transaction pairs.
- Loans: Submit and manage digital asset loans with complete customization and automation of margin payments, collateral management and more.
About Zero Hash
Zero Hash’s mission is to empower innovators by delivering access to the financial system 2.0. Zero Hash enables developers and businesses to focus on building experiences and products. We power your favorite brokerage app or neo bank to offer BTC, provide the rails to the 2.0 payment processors, give platforms the ability to facilitate instantaneous cross border payments and eliminate complexity for moving assets for the world’s largest liquidity providers.
Zero Hash is a FinCen-registered Money Service Business as well as a regulated Money Transmitter that can operate in more than 45 states (providing coverage to roughly 97% of the US population). Zero Hash also holds a virtual currency license from NYDFS.
In 2019, Zero Hash was voted Innovator of the Year by the Profit & Loss Readers Choice Awards.
About tastytrade, Inc.
tastytrade is the parent company to tastyworks, a brokerage firm creating and leading a financial revolution for the do-it-yourself investor; Quiet Foundation, a data science-driven, fee-free investment advisory service; Dough, a mobile-first brokerage firm radically challenging the status quo and changing wealth creation; and is the lead innovator behind The Small Exchange and its mission to become the world's largest customer-centric futures exchange, bridging the futures product gap for investors of all sizes. tastytrade and its companies focus on empowering the individual investor through content, technology and know-how.
tastytrade is one of the most-watched online financial networks, engaging investors and traders across 165 countries with daily, live, cost-free and commercial free programming with over 100 million hours viewed and offers over 50 original segments for new and seasoned veteran traders. tastytrade’s data driven research-based content teaches a logical, mechanical approach to investing and identifying opportunities based on probability and volatility. Investors are continually challenged with financial math, humor and new market perspectives.
Contact:
Edward Woodford
media@zerohash.com