Stablecoins are becoming the cash layer of the digital economy, making money move faster, cheaper, and more globally than ever before.

People think blockchain is overcomplicated, but what about the complexity of the money system we use today: layers of banks, processors, clearing networks, and compliance rails that all add friction just to move a dollar?

The vision of stables is to make things simpler, and if there’s anywhere built to scale them, it’s Chicago. Our DNA in trading, market structure, payments, and risk will help turn Chicago into a hub for stables.

Stablecoins, in short, are digital currencies pegged to assets like the US dollar.

Unlike volatile crypto, they combine traditional finance and the digital world, allowing for instant payments, lower fees, and real time settlement across borders.

In 2025, stables have already processed more than $2 trillion in monthly transactions, surpassing PayPal.

They’re being used for everything from cross border remittance to onchain treasury management.

Chicago’s legacy in trading has quietly built the foundation for our stablecoin rise.

Our city’s dominance in derivatives, futures, and risk modeling created the technical and cultural DNA needed for digital money systems.

DRW, a homegrown firm, made its first Bitcoin trade in 2010 and later launched Cumberland, now one of the largest global crypto trading desks that even executed Goldman Sachs’ first block crypto trade in 2021.

Also Solana’s cofounder Anatoly Yakovenko studied computer science at the University of Illinois Urbana Champaign.

Both FTX and Solana once operated Chicago offices, and much of that talent has stayed.

And beneath all of this, we continue to grow our base of high-efficiency data centers and access to affordable, reliable power give it the compute backbone these systems need to scale.

Decades of experience in liquidity management, microsecond execution, and market structure have translated directly into blockchain and stablecoin infrastructure.

There are some Chicago startups that are shaping the next chapter of the stablecoin ecosystem:

Chicago’s newest unicorn, Zero Hash, provides infrastructure for stablecoin and crypto payments allowing fintechs and banks to offer digital asset features without holding custody.

Coinflow builds stablecoin payout rails for platforms and gig-economy businesses, cutting settlement times from days to seconds. They recently raised a $25 million Series A.

Architect is building a modern institutional brokerage that connects traditional assets and stablecoin markets, allowing for trading across stocks, options, futures, and on-chain perpetuals.

As regulation evolves, Chicago’s trading heritage and financial infrastructure make it a leading hub for stablecoin adoption.

Illinois just made a major move on energy.

Lawmakers voted to end our 40 year ban on building large nuclear reactors (1 GW+) and the bill now heads to Governor Pritzker’s desk for signature on Nov 6.

I’ve written a lot about the importance of nuclear in past editions. Illinois already has the largest nuclear fleet in the country, powering jobs, low prices, and energy independence. Ending the ban is a win for clean, reliable power.

But here’s the catch: the same bill adds new programs for geothermal heating, battery storage, and grid management, and those programs are funded through electricity bills. These ideas are meant to modernize the grid and support clean heating, which is positive in theory, but they also add new layers of cost.

If electricity becomes noticeably more expensive, especially for large users like manufacturers, data centers, and hospitals, it can influence where companies decide to grow or invest.

Illinois has an advantage in clean, steady power. We just need to make sure that advantage is not undercut by rising energy costs.

Still let’s chalk this up as a win today.

Illinois is saying yes to nuclear again and with efficient permitting and smart execution, it could lead the next wave of US nuclear development.

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