Daily Market Wrap | Nov. 12

Hot Topics

  • JPMorgan launches USD JPM Coin deposit token on Base for 24/7 instant institutional settlements, tested by B2C2, Coinbase, Mastercard, with euro expansion eyed.
  • U.S. Senate passes bill with 60-40 vote to end historic shutdown by restoring federal funding through Jan. 30.
  • SoFi, first nationally chartered U.S. bank, launches crypto trading for customers with BTC, ETH, and dozens more, leveraging eased OCC rules to integrate blockchain into lending and payments.

Market Updates

  • Visa launches USDC payout pilot for creators and gig workers, enabling near-instant cross-border payments to stablecoin wallets with select partners, expanding in 2026.
  • Canary Funds' XRP Trust could launch as the first U.S. spot XRP ETF on Thursday, potentially boosting XRP liquidity and attracting institutional inflows.
  • Lighter raises $68M at $1.5B valuation to challenge decentralized derivatives rivals with zk-rollup tech, backed by Founders Fund and Haun Ventures.