Mastercard Nears $2 Billion Acquisition of Chicago's Zero Hash, Boosting City's Stablecoin Hub Status

Chicago is rapidly solidifying its position as a burgeoning hub for stablecoin innovation, with local startups like Zero Hash and Coinflow Labs leading advancements in how digital money moves. This development was recently highlighted by social media user Landon, who stated in a tweet, "> Chicago is emerging as a hub for stablecoin innovation. From @ZeroHashX to @CoinflowLabs, startups here are shaping how money moves." The city's growing prominence in the digital asset space is underscored by significant corporate activities and strategic expansions from its key players.

Zero Hash, a Chicago-based crypto and stablecoin infrastructure company, is reportedly in late-stage negotiations for an acquisition by payments giant Mastercard, a deal valued at up to $2 billion. This potential acquisition follows a substantial $104 million funding round in September 2025, which propelled Zero Hash to a $1 billion valuation. Investors in that round included Interactive Brokers, Morgan Stanley, Apollo Global Management, and Jump Trading, signaling strong institutional confidence in the firm's B2B2C embedded infrastructure platform.

Further expanding its global reach, Zero Hash recently secured MiCA license approval from the Dutch regulator in early November 2025. This crucial license allows the company to provide regulated crypto-asset and stablecoin infrastructure services across 30 European countries, enabling partners like Stripe and Morgan Stanley to scale their stablecoin offerings throughout the European Economic Area. Zero Hash's platform supports a wide array of applications, including crypto trading, payments, and tokenization, having already settled over $45 billion in transaction volume.

Another Chicago-based innovator, Coinflow Labs, is also contributing to the city's stablecoin ecosystem by simplifying payments through instant settlement on public blockchains. The company successfully raised a $2.25 million seed round in June 2025, led by CMT Digital, with participation from Reciprocal Ventures, Jump Crypto, Digital Currency Group, and Draper Dragon. Coinflow Labs focuses on enabling global card acceptance and instant customer payouts, facilitating seamless transitions between Web3 businesses and traditional Web2 users.

The collective growth and strategic moves by these Chicago-based firms reflect a broader trend of increasing institutional demand for blockchain technology and stablecoins. Industry experts view stablecoins as a critical component in the future of global payments, offering faster and more cost-effective alternatives to traditional financial rails. Chicago's supportive environment and the innovative spirit of companies like Zero Hash and Coinflow Labs are positioning the city at the forefront of this evolving financial landscape.