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According to Bloomingbit, the U.S. Treasury is promoting a plan to impose counterparty due diligence requirements on stablecoin issuers that are equivalent to those for banks.The core of the proposal is to require stablecoin issuers to bear the same counterparty due diligence obligations as U.S. banks, tightening the verification standards for stablecoin issuers. Specific details, including the implementation timeline and the scope of entities and activities covered, have not yet been disclosed.

According to The Block, Anchorage Digital announced a partnership with Visa to use a portion of the stablecoins issued by its federally chartered bank as native settlement assets on the Visa network, with the first supported being the Western Union stablecoin USDPT. Visa and eligible partners can now settle VisaNet debts using USDPT, and both parties will establish a framework to evaluate the inclusion of more stablecoins issued by Anchorage.USDPT was launched on Solana in May of this year, issued and custodied by Anchorage Digital Bank.

According to The Block, the stablecoin SoFiUSD issued by the licensed American bank SoFi has been launched on the Polygon Open Money Stack.SoFi users can buy, sell, hold, and exchange SoFiUSD on Polygon through the SoFi App without the need for a separate wallet or manual cross-chain transactions. SoFiUSD is issued by SoFi Bank, a national bank regulated by the Office of the Comptroller of the Currency (OCC), and can be redeemed for US dollars at a 1:1 ratio.

According to Cointelegraph, the Securities and Exchange Commission (SEC) of Thailand has released a draft proposing that regulated cryptocurrency operators set a daily deposit and withdrawal limit of 5 million Thai Baht (approximately 148,000 USD) for each customer regarding stablecoins. This limit will be calculated separately for each operator, applying to both deposits and withdrawals. The regulatory body stated that this move aims to curb money laundering, cybercrime, and the evasion of cross-border fund transfer regulations.The draft also prohibits the transfer of stablecoins in and out of third-party wallets, requiring operators to verify that customers own the accounts or wallets used for deposits and withdrawals. Operators must also comply with the Travel Rule, which involves collecting and sharing information related to transfers and using blockchain analysis tools to identify wallet addresses associated with suspicious activities.Additionally, the draft requires cryptocurrency exchanges to disclose their list of market makers and specify the assets that these market makers provide liquidity for; cryptocurrency brokers are not allowed to use liquidity providers for trading pairs of stablecoins with Thai Baht; a minimum threshold of 3 million Thai Baht will apply to certain over-the-counter transactions. This draft continues the consultation initiated by the Thai SEC in September, during which it had already proposed limits on stablecoin transfers and recommendations for strengthening the regulation of cryptocurrency operators.

According to The Block, digital asset infrastructure company BitGo announced that it has added minting and redemption features for USDC in its Go Account. This service is open to qualified clients of its subsidiary BitGo Bank & Trust, which is a digital asset trust bank regulated by the Office of the Comptroller of the Currency (OCC). Clients can initiate and monitor USDC orders on the BitGo platform or via API, and BitGo will process them through its Circle Mint account, charging a fixed fee disclosed before the client confirms the transaction.The service supports USDC on Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche, HyperEVM, Monad, and Aptos, with specific availability depending on jurisdiction and account requirements. Eligible orders can be processed on-chain 24/7, but fiat deposits and withdrawals must still adhere to banking processing windows and settlement times.BitGo launched the Mint service for the first time in April this year, initially supporting USD1 from World Liberty Financial and SoFiUSD from SoFi Bank, allowing institutions to access related assets without establishing separate relationships with each issuer.BitGo CEO and co-founder Mike Belshe stated that the more assets institutions use, the greater the workload for managing independent accounts and relationships with issuers. The company is enabling clients to access more assets through a single BitGo account based on the infrastructure they have already used.Just a week prior, BitGo launched BitGo Global Markets, led by former NYDIG executive Pete Janney, offering institutional trading and financial services such as crypto collateral financing, options, and swaps; this business stems from the acquisition of NYDIG's institutional trading business on August 27, with about 30 employees joining as a result.

According to Glassnode data, as of November 9, the total supply of major stablecoins has decreased by approximately $14.2 billion over the past 30 days, marking the largest monthly decline since June 2022, surpassing the $9.5 billion drop that occurred when Bitcoin fell below $58,000 in July of this year. Glassnode indicates that the contraction in stablecoin supply means that holders are redeeming stablecoins for US dollars and withdrawing from the crypto market, leading to a reduction in liquidity available to drive market rallies.Among them, the largest stablecoin USDT is currently trading slightly below the $1 peg, which Glassnode attributes to investors continuously exiting the stablecoin market. CryptoQuant data shows that the demand for Bitcoin has decreased by 284,000 coins over 30 days, marking the largest decline since March 2025; the Coinbase Bitcoin premium index fell to -0.27% on October 29, the lowest level since November 2022, and as of Wednesday, it remains in negative territory, reflecting relatively weak demand and significant selling pressure in the U.S. market.

British bank Griffin has completed a $20 million Series B financing round, led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega, and others. The company's valuation exceeds $100 million, though it has not disclosed whether this is pre-money or post-money valuation. Griffin stated that the funds from this round will be used to drive business expansion and achieve profitability.Griffin was founded in 2017 by former Airbnb employee David Jarvis and CircleC co-founder Allen Rohner, and it obtained a full banking license in 2024 and officially launched. Currently, Griffin provides banking infrastructure services to over 80 companies, including Uber, Countingup, Anna Money, Yonder, and Prosper. The company serves over 300,000 retail and business customers, processing approximately 10 million payments annually. As of September 2026, its recurring revenue has increased 3.2 times year-on-year, a figure that has not yet been audited.Griffin co-founder and CEO David Jarvis stated that the company will expand its card issuance and stablecoin business: the card issuance business will support branded retail and corporate debit cards, with credit card products to be launched later; in terms of stablecoins, the company is developing reserve-related services for enterprises and advancing on-chain cross-border payment solutions.

According to CoinDesk, Gemini has sold its UK and European operations to stablecoin payment company Kast for less than 10 million dollars. Gemini exited the UK and European markets in February this year, with the buyer primarily valuing the local MiCA and FCA licenses.

The draft of South Korea's "Basic Law on Digital Assets," expected to be announced this month, will propose that a bank-led consortium be responsible for issuing the Korean won stablecoin. However, even if banks are responsible for issuance, exchanges and third-party payment platforms may still take on the circulation link connecting consumers and merchants, making user entry points and application scenarios key to competition.It is reported that the business integration between Upbit's operator Dunamu and Naver Financial could become an important variable. If related services are approved for integration, Dunamu could generate revenue through stablecoin transactions, while Naver Financial is expected to collect fees through merchant payments and settlements. A representative from South Korea's financial regulatory authorities pointed out that if stablecoins are used for electronic payments, related businesses may need to comply with the "Electronic Financial Transactions Act," and clarify obligations regarding the protection of recharged funds and settlement funds, transaction information management, and dispute resolution.

According to Crypto Briefing, Dubai-based Cequire Capital announced plans to invest $100 million in early-stage Web3 companies and liquid digital assets, using its own funds to support projects in five areas of blockchain infrastructure and fintech.This three-year funding will cover stablecoins and stable chains, AI and autonomous agent payments, tokenized real-world assets, privacy technology, and post-quantum security. Cequire plans to allocate 60% of the funds to venture capital, 30% to liquid assets, and 10% to co-investments, leading or co-leading seed and pre-seed rounds with investments ranging from $500,000 to $2 million. The company stated that the first $50 million is ready to be deployed, with deployment expected to be completed by the end of the next quarter.

Glassnode posted on platform X that Bitcoin has fallen below the short-term holder cost price of $75,600, underperforming compared to U.S. stocks, and the funds that could drive its rise are continuously flowing out. Currently, about 35% of short-term holders are in profit, with sellers averaging small losses.In terms of capital, the total supply of stablecoins has decreased by $14.2 billion over the past 30 days, marking the fastest contraction since June 2022; the U.S. spot Bitcoin ETF has seen a net outflow of $1.6 billion over the past 20 trading days; excluding the impact of USDT falling below $1, the 30-day average premium on Coinbase has remained negative, with the discount being the deepest since February. On the macro front, the two-year U.S. Treasury yield is at 4.75%, which is 75 basis points higher than the current 4% rate of the Federal Reserve, indicating that the bond market expects further rate hikes, but it is far from the level of 244 basis points in June 2022.However, there are also positive signals, as the decline has cleared most of the long leverage near the price, with the largest concentration of liquidations located between $59,500 and $62,600; since the sell-off on November 5, buy orders within a 5% price range in the Binance and Coinbase spot order books have consistently outnumbered sell orders; wallets holding between 100 to 1,000 BTC and 1,000 to 10,000 BTC have started to accumulate over the past week.Glassnode stated that if it returns to $75,600, it will support the judgment of a trend reversal in August; if it continues to fall below $73,000, it may enter a longer period of consolidation; if it closes below the June low of $58,500, the trend reversal since August will be broken.

According to Cointelegraph, Paraguay's digital bank Ueno was taken over by the central bank on November 3, leaving nearly 3 million customers (about 60% of the country's adults) unable to access their accounts.The central bank stated that its solvency ratio fell below half of the statutory minimum requirement, with investigations revealing suspicious loan operations and accounting deficiencies in credit documents. The incident triggered a political crisis, with thousands taking to the streets to protest, and President Santiago Peña attempted to resign before being impeached, later arrested on charges of breach of trust and abuse of power for personal gain.The local P2P crypto market immediately reflected the turmoil, with some sellers marking up USDt by as much as 13%; the local currency, Guarani, fell 12.3% within a week, leading some citizens to turn to stablecoins for value preservation or to maintain payments.David Eisenmann, founder of the Paraguayan crypto exchange X4T, stated that the takeover occurred just as salaries, rents, and vendor invoices were due at the beginning of the month, leaving many business owners unable to pay wages. As of November 9, the central bank reported that 93.1% of Ueno's deposit customers had been compensated.

According to The Block, the Financial Stability Board (FSB) urged Turkey to strengthen regulation of crypto assets and stablecoins in four areas.In its second peer review of the country, the FSB called for the establishment of a dedicated stablecoin framework, enhanced financial stability monitoring, strengthened regulation and enforcement, and improved cross-border cooperation and information sharing.

According to The Block, JPYC Inc., the issuer of the yen stablecoin, CEO Noritaka Okabe stated that as more banks face service disruptions, the demand for JPYC stablecoin will rise. Shortly before Okabe made the above remarks, Japan's GMO Aozora Net Bank suspended part of its bank API services after detecting unauthorized communications.Its parent company, GMO Internet Group, experienced a significant cybersecurity incident last month, involving ransom demands following unauthorized access to servers. JPYC is a regulated yen-pegged stablecoin, and the company registered as a money transfer service provider with Japanese authorities in October 2025.

Stablecoin payment infrastructure provider Rain has launched the AI agent payment product Agent Vaults. Businesses can embed payment and receipt functions into applications using their own branding, allowing AI agents to collect payments, shop, and transfer funds on behalf of users or businesses within authorized limits.The product supports funding through bank transfers, payment cards, or stablecoins, with funds able to be stored as fiat currency in bank accounts or stablecoins in embedded wallets. Agents can make payments using Visa or Mastercard, as well as remit to bank accounts or directly transfer stablecoins. Users or platforms can set spending limits, designate merchants or payees, and restrict payment times.

Cryptocurrency analyst Tom Wan posted on the X platform that the market share of Ethereum stablecoins has dropped to 46%, a historic low. Over the past year, the supply of stablecoins on the Ethereum chain has decreased by $32.5 billion, while the total supply of stablecoins in the entire market has only decreased by about $10 billion.During the same period, the supply of Tron stablecoins increased by $16.2 billion, raising its market share to 32%; Hyperliquid and Solana increased by $1.6 billion each. Additionally, the newly launched blockchains this year, including Arc, X Layer, Robinhood Chain, Tempo, and Monad, collectively added about $5.2 billion in stablecoin supply.

According to Bloomberg, informed sources revealed that financial institutions such as Goldman Sachs, Citigroup, Santander Bank, and Deutsche Bank have committed approximately $270 million in funding for a joint stablecoin project.

According to CoinDesk, Alessandro Hatami, founder of Pacemakers and former Chief Operating Officer of Digital Banking at Lloyds Banking Group, stated in a commentary article that as cryptocurrency companies increasingly converge with banks, it is worth questioning whether stablecoins still possess lasting advantages.

According to The Block, payment company Visa has included the Monad blockchain network in its stablecoin settlement program, allowing participating issuing institutions and acquiring institutions to settle through this network.The Monad Foundation stated that Monad has joined the ranks of blockchains supported by Visa, including Avalanche, Ethereum, Solana, Stellar, Circle's Arc, Base, Canton, Polygon, and Tempo, with the latter five announced as supported in April this year. Compared to traditional card settlements that follow a five-business-day banking schedule, blockchain settlements allow funds to flow on weekends and holidays.Dan Roesbery, Vice President of Global On-Chain Partnerships and GTM at Visa, stated that the goal is to allow partners to flexibly choose the blockchain network that best meets their needs for settlement. The support for Monad expands the options for partners and is another step in building a multi-chain stablecoin payment settlement infrastructure. Visa disclosed that as of September 2026, its stablecoin settlement annualized run rate reached $20 billion, a year-on-year increase of more than 15 times, with over 225 stablecoin-related card projects launched globally.Monad is developing a privacy feature called Private Settlement for institutions, expected to launch in the coming months, which will allow institutions to keep sensitive transaction details confidential while sharing these details with auditors or regulators when necessary. This feature is built directly into Monad, and privacy transactions can use the same liquidity as other transactions on the network without slowing down settlement.Keone Hon, co-founder and General Manager of the Monad Foundation, stated that the next phase will depend on whether institutions can keep sensitive fund flows confidential without leaving the open network. Visa has also explored privacy settlements on Canton, announcing in June a proof of concept with stablecoin issuer Brale to test settlements using its dollar-backed SBC token.