Daily Market Wrap | Nov. 12

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.

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.

Stablecoins

ETF

Policy and Regulation