ChainCatcher news, Swiss crypto bank Amina Bank has recently completed a pilot project using Distributed Ledger Technology (DLT) in collaboration with Crypto Finance Group and its partner banks through Google Cloud Universal Ledger: enabling fiat settlement between regulated banks in Switzerland, achieving near real-time, 24/7 availability. The pilot did not introduce any new digital money, but instead continued to use traditional commercial bank funds, demonstrating that DLT technology can seamlessly integrate with existing banking systems within the current regulatory and compliance framework. Officials stated that this achievement lays the foundation for future promotion of "cross-border payments," "multi-currency settlements," and "physical point of sale (POS) integrated payments," suggesting that the TradFi system may be on the verge of a transformation.

The phenomenon of cryptocurrency trading diversion is infiltrating mainstream platforms such as Xiaohongshu and Taobao. The content appears to be for sharing, but in fact, it guides users to participate in cryptocurrency trading. Industry insiders are calling for strengthened regulation and cooperation between platforms and users to address this chaos. The Central Bank will also continue to crack down on virtual money transactions.

Golden Finance reports that on November 28, 2025, the People's Bank of China held a coordination meeting to combat the speculation and trading of Virtual Money. The meeting emphasized that Virtual Money does not have the same legal status as legal tender, does not have legal compensation, and should not and cannot be circulated as money in the market. Activities related to Virtual Money are considered illegal financial activities. Stablecoins are a form of Virtual Money that currently cannot effectively meet customer identification, anti-money laundering, and other requirements, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers. (People's Bank of China website)

ChainCatcher message, WeBank has partnered with Hong Kong Digital Bank Fusion Bank to utilize the Shenzhen-Hong Kong cross-border data verification platform, leveraging Blockchain technology to transform enterprises' operational data in the mainland into tamper-proof credit reports. Local banks in Hong Kong can issue unsecured loans based on these reports. It is reported that the first loan has been successfully distributed to a cross-border logistics company, representing that mainland data assets can be transformed into tangible liquidity in Hong Kong through technological means.

PANews, November 29 news, according to CCTV news, the Macro-Prudential Management Bureau of the People's Bank of China has recently issued a notice to fully support the search and rescue of personnel, medical treatment of the injured, and post-incident comfort work for the fire in Tai Po, Hong Kong, ensuring that donations received domestically are credited with zero latency. The People's Bank supports commercial banks in establishing a green channel for cross-border RMB donations. Commercial banks do not need to review document materials and can directly transfer donations to the Tai Po Hong Fu Yuan Assistance Fund account (01287521901607) based on payment instructions from domestic institutions or individuals, and ensure proper submission of RCPMIS data as required.

American model Bri Tracy recently explored the role that XRP might play in the reverse yen arbitrage trading in Japan, which amounts to a staggering $4.5 trillion. Tracy pointed out that XRP has fast and programmable settlement capabilities that meet the needs of modern financial infrastructure. She emphasized that the bank for international settlements (BIS) recommends effective settlement of assets to be turned over 8 to 10 times daily to ensure liquidity, while the turnover speed of XRP far exceeds this standard. Japan's SBI Remit has already started using XRP for fast cross-border settlements. Reverse arbitrage trading refers to investors borrowing funds in low interest rate countries and investing in high-yield assets to obtain differential returns. Japan has long maintained a low interest rate, even negative interest rate environment, giving rise to a large-scale yen arbitrage trading. According to data from the Japanese Ministry of Finance, the trading scale is approximately 4.2 trillion to 4.5 trillion USD. After the Bank of Japan ended negative interest rates and raised the benchmark rate in March 2024, some arbitrage trades triggered reverse operations, with about 40% of trades closed and the remaining 60% still ongoing.

The European Central Bank recently made a clear statement regarding Bitcoin reserves, indicating that it will not include Bitcoin in its official reserves. This decision has sparked heated discussions in the global crypto world, with the market and investors showing high concern for the future direction of European digital assets. The European Central Bank emphasizes that Bitcoin reserves do not align with its long-term framework. The bank prefers assets that are stable, have clear valuations, and a historically reliable safety record, whereas Bitcoin has yet to meet these standards. In its statement, the European Central Bank pointed out that further regulatory strengthening is needed to ensure that the risks are manageable before Bitcoin is included in the official financial system.

The Japanese real estate company Shinoken Group has signed a memorandum with Japan Post Bank and DeCurret DCP to pilot the use of tokenized deposits for real estate transactions, scheduled for completion by the end of December, with implementation expected in 2026. Shinoken will launch a points system, and the postal bank will issue tokenized deposits.

The South African Reserve Bank (SARB) clearly stated in its latest research report that while retail Central Bank Digital Currency (CBDC) is technically feasible, South Africa does not urgently need to launch a digital rand at this time and should focus on upgrading and reforming the existing payment system. The report points out that improving payment infrastructure, enhancing settlement speed, and expanding the participation of non-bank institutions are more realistic and faster ways to enhance financial accessibility. In contrast, launching a public-facing CBDC will require a completely new legal and technical framework, with higher implementation costs and longer cycles. Therefore, SARB will focus on the wholesale scenarios of digital money and improving cross-border payment efficiency, rather than promoting consumer-facing CBDC.

Odaily News Polygon's Global Head of Payments and RWA Aishwary Gupta believes that global stablecoins are entering a "Supercycle," with the number of stablecoin issuers potentially exceeding 100,000 in the next five years. Gupta pointed out that Japan is participating in government bonds and policy stimulus pilots through stablecoins like JPYC, demonstrating that stablecoins can become tools of national economic sovereignty rather than undermining Central Bank power. He stated that stablecoins, like fiat, are affected by monetary policy and essentially enhance the global demand for a country's currency, similar to how stablecoins drive the use of the US dollar. Gupta also warned that stablecoin yields are attracting low-interest deposits (CASA) in the banking system to flow on-chain, weakening banks' ability to create credit and maintain low-cost capital. To respond to competition, he expects banks to issue "deposit tokens" on a large scale to retain funds within their own assets.

The UK's Financial Conduct Authority (FCA) has launched a stablecoin project group, with applications closing on January 18, 2026, to test a pound stablecoin. The regulation adopts a dual-track system, with the Central Bank responsible for systemically important stablecoins and the FCA responsible for the conduct of other stablecoins and consumer protection.

Golden Finance reports that the Bank for International Settlements (BIS) has released a brief stating that there is a liquidity mismatch risk between daily redemptions and T+1 settlements for tokenized money market funds (MMFs), which is particularly pronounced under market stress. However, solutions are already emerging in the industry, such as Broadridge's DLR system, which enables the intraday transfer and monetization of government bonds, providing a technical path to alleviate liquidity mismatches.

Golden Finance reported that the systemic importance of American banks has been raised by the Financial Stability Board (FSB), and thus they will face higher capital requirements. This bank has been elevated to the third highest tier on the FSB's list of Global Systemically Important Banks (GSIB). The additional capital buffer requirement faced by the company has increased from 1.5% to 2%. Deutsche Bank has been downgraded by one tier, with the additional capital requirement reduced to 1%. Compared to the previous year, there are no other adjustments.

Jinse Finance reports that major banks on Wall Street are preparing to achieve new successes in emerging markets, expecting that a weak dollar and the investment boom in the field of artificial intelligence will provide further momentum for this asset class. These favourable factors are expected to drive further rises in emerging markets, with local currency bonds offering investors a return of 7%, the best performance since 2020, and the currency index also rising more than 6%. Morgan Stanley strategists point out that as the US economy slows down, the Fed may further cut interest rates, which will support the continuation of market gains. The bank advises clients to maintain long positions in emerging market local currency bonds, expecting returns to reach around 8% by mid-2026. For emerging market dollar bonds, it forecasts a "high single-digit" rise over the next 12 months.

The European Central Bank meeting minutes show that the assessment of the inflation outlook remains largely unchanged. Most officials believe that the rate cut cycle has ended, and a prudent strategy helps maintain a good state. However, the risks to the inflation outlook remain bidirectional and uncertain, making the value of waiting for more information high.

Multiple Wall Street institutions predict that there is still room for a rise in the US stock market in 2026. Deutsche Bank, HSBC, and Morgan Stanley all expect the S&P 500 index target to be between 7500 and 8000 points, believing that policy support and earnings strength will continue.

Tether has recently doubled its holdings in gold, attracting market attention. Analysts believe this could be a strategic move to lay out a tokenization plan for the gold market, aimed at meeting the rise in demand for the USDT stablecoin and Tether Gold (XAUT). By 2025, Tether's treasury will hold approximately 116 tons of gold, most of which was purchased this year, and its reserve scale can rival that of small central banks like South Korea. According to the Financial Times, Tether purchased 26 tons of gold in the third quarter, surpassing the demand of the central banks of Kazakhstan and Brazil during the same period. Investment bank Jefferies pointed out that, aside from central banks, Tether is the largest holder of gold in the world, with gold reserves "roughly equivalent to smaller central banks such as those of South Korea, Hungary, and Greece."

According to BlockBeats news on November 27, the latest research released by the Fed shows that the top 100 banks in the United States and 100 non-bank financial institutions (NBFIs) have a high concentration risk at the "third-party service provider" level. If key cloud, payment, or core IT service providers experience a failure, it will quickly evolve into a cross-market systemic event. The model indicates that in extreme scenarios, the tail losses caused by systemic incidents could far exceed normal operational risks, with operational disruptions becoming the main source of loss rather than traditional credit events. From a macro-financial perspective, this study quantitatively confirms for the first time that "digital infrastructure failure" itself can trigger a financial crisis, rather than being merely an accompanying risk. When critical third-party nodes fail, it will simultaneously impact payment clearing, liquidity allocation, credit transmission, and risk hedging mechanisms, rapidly increasing the value of the dollar in the short term.

Swiss Amina Bank and the Crypto Finance Group under Deutsche Börse have successfully completed a pilot for real-time fiat Settlement on Google Cloud's universal ledger, validating the application potential of Distributed Ledger technology in cross-border payments and multi-currency Settlements, while complying with existing regulatory standards. This move provides a practical model for the transformation of the financial system.

PANews, November 27, reported by Cryptopolitan, the latest report from the Bank for International Settlements (BIS) indicates that the total assets of tokenized money market funds have surged from $770 million at the end of 2023 to nearly $9 billion, becoming a key source of collateral in the crypto ecosystem. The agency warns that while such assets have the "flexibility of stablecoins," they also bring substantial operational and liquidity risks. The BIS identifies liquidity mismatch as a major risk of tokenized money market funds. It points out that while investors can redeem tokenized fund shares on a daily basis, the underlying assets still adhere to the traditional T+1 settlement mechanism. During periods of market pressure, concentrated redemption demands will expose this structural risk. Subsequently, the organization noted that the market is still in its early stages of development, and solutions are continuously being improved, such as the distributed ledger repurchase (DLR) launched by financial technology company Broadridge.

The Xapo Byzantine BTC Credit Fund of Xapo Bank has opened to accredited investors, attracting $100 million in its initial phase. The fund provides a wealth management tool for long-term Bitcoin holders, offering low-risk stable returns through an institutional credit process.

BlockBeats news, on November 27, the latest Beige Book survey released by the Fed shows that U.S. economic activity has seen little change in recent weeks, but overall consumer spending has further declined, except for high-end consumer groups. According to the Beige Book survey released by this U.S. Central Bank on Wednesday, employment levels have slightly decreased, while prices have moderately risen. There are differences among Fed policymakers regarding whether to maintain interest rates or lower them at the December meeting. This report provides a basis for both sides of the current policy debate.

Deutsche Bank predicts that gold prices will approach $5,000 per ounce in 2026 and break through $5,150 in 2027. Analysts point out that demand for gold purchases by the Central Bank and the return of ETFs will drive gold prices up, despite a previous decline, the prices have now rebounded. Additionally, the fluctuation of gold prices in 2025 reached the highest level since 1980, reflecting market concerns about inflation and global debt.

According to ChainCatcher news and Jin10 reports, JPMorgan economists have changed their forecast, believing that the Fed will initiate interest rate cuts in December, which reverses the bank's judgment a week ago that policymakers would delay rate cuts until January next year. The research team stated that several heavyweight Fed officials support the recent statements on interest rate cuts, prompting them to reassess the situation. Currently, JPMorgan expects the Fed to cut rates by 25 basis points in December and again in January next year.

American banks are cautious about the stock market, expecting the S&P 500 index to reach 7100 points by 2026, but with weakened Liquidity support, market fluctuations will be between 5500 and 8500 points. Profit growth and market returns may not be synchronized, so follow the market changes in artificial intelligence and consumer goods.

Odaily News Jefferies' analysis report shows that the stablecoin issuer Tether currently holds 116 tons of physical gold, making it the "largest gold holder outside of Central Banks," with reserves comparable to those of Central Banks in countries like South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global gold demand and nearly 12% of Central Bank purchases, and its aggressive acquisition behavior may have affected short-term market supply and investor sentiment. Investors cited by Jefferies believe that Tether plans to acquire another 100 tons of gold by 2025. With an expected profit of $15 billion this year, this goal seems within reach. Additionally, Tether has invested over $300 million in precious metal producers and has issued gold-backed Token Tether Gold.

BlockBeats News, on November 26, the yield on the UK two-year government bonds fell by 7.1 basis points, reaching the lowest level since August 2024, at 3.693%. Traders are increasing their bets on the extent of the Bank of England's interest rate cuts, expecting a cumulative cut of 68 basis points by the end of 2026. (Jin10)

PANews November 26 news, according to the BIS official website, Tommaso Mancini-Griffoli will join the bank for international settlements (BIS) on March 1, 2026, as the head of the BIS Innovation Hub for a term of five years and will enter the BIS Executive Committee. He is currently the Assistant Director of the IMF's Monetary and Capital Markets Department, responsible for payment, currency, and financial market infrastructure. The BIS Innovation Hub covers seven centers (Frankfurt/Paris, Hong Kong, London, Singapore, Stockholm, Switzerland, Toronto) and maintains strategic cooperation with the Fed. His predecessor was Cecilia Skingsley; before his arrival, BIS Deputy General Manager Andréa M.

According to a Reuters report, sources say that the Bank of Japan may announce an interest rate hike at the policy meeting in December. Policymakers are weighing the weakening yen against wage rise and preparing for the potential end of the ultra-loose monetary policy. The Governor of the Bank of Japan, Kazuo Ueda, emphasized the need for more data on wage growth trends, while pointing out that the recent depreciation of the yen may affect potential inflation. Bank of Japan board member Junko Nakagawa also stated that given the recent decline of the yen, it is necessary to normalize monetary policy, which suggests that interest rate hikes may be approaching.

According to Jinse Finance, the Bank for International Settlements (BIS) has appointed one of the world's most influential digital money economists, Tommaso Mancini-Griffoli, as the next head of the BIS Innovation Hub, effective March 2026. The Bank for International Settlements stated on Tuesday that Mancini-Griffoli will 'lead efforts to explore innovative technological solutions in the central banking community.' His responsibilities are expected to include the ongoing advancement of Central Bank Digital Currency (CBDC), tokenization of assets, and new market infrastructure. Mancini-Grifoni currently serves as Deputy Director of the Monetary and Capital Markets Department at the International Monetary Fund, responsible for payment and currency matters. He is one of the most important advocates within the IMF for a regulated digital currency model supported by public funds, having previously warned about the risks of unregulated stablecoins. This appointment comes at a time when the bank for international settlements innovation center is accelerating its progress.

Pruv Finance announced the completion of a $3 million Pre-A round of financing, led by UOB Venture Management, a subsidiary of United Overseas Bank. The funds will be used to build a digital financial platform that supports institutional users in achieving RWA asset tokenization and on-chain distribution.

Golden Finance reported that data from Jefferies shows that as of September 30, during the two quarters, stablecoin USDT issuer Tether held a total of 116 tons of gold for its customers, equivalent to approximately 14 billion USD at current prices, surpassing the official gold purchase amounts provided by any Central Bank.

According to a report by Newspim on Wednesday, KakaoBank, a digital bank under the leading IT company Kakao in South Korea, has advanced its stablecoin plan pegged to the Korean won to the actual development stage. KakaoBank's official website also published information on recruiting backend developers for blockchain services, indicating this progress. The main requirements include proficiency in smart contracts, knowledge of token standards, and experience in trading management and Full Node operations. KakaoBank's Chief Financial Officer Kwon Tae-hoon stated in the performance report for the first half of 2025 released in August that the bank is evaluating various options for participating in digital finance, such as issuing or custodizing digital assets.

Vitalik Buterin calls for privacy to be standardized in response to a major bank data breach, which has caused Ethereum's price prediction to rise due to its association with one of the most important topics in this cycle. Before panic spreads throughout the market, the concept of Privacy Coin is gradually gaining follow, seen as the next important entry point for real-world applications through tokens like Zcash. Vitalik's recent comment that "privacy is not a feature, but a hygiene habit" has once again sparked interest, with Ethereum becoming the focus of discussion this time. This argument stems from the recent data leak incidents involving clients of major U.S. banks such as JPMorgan, Citigroup, and Morgan Stanley.

The Bank of Japan may raise interest rates next month due to the heightened inflation risks caused by the depreciation of the yen. Recent hawkish statements and government support have eliminated political opposition, but the timing of the rate hike remains to be seen and will be influenced by the decisions of the Fed.

Golden Finance reported that ShapeShift executive Houston Morgan stated that JPMorgan suddenly closed his business account last Friday and notified him that his personal account would also be closed this week, citing the reason as "to protect Chase's Financial Institution." Morgan indicated that the entire process was without warning, and he was not asked to provide additional information, nor was there an opportunity to appeal. This incident follows the closure of Strike CEO Jack Mallers' account, raising concerns about the "de-banking" of the U.S. encryption industry once again. JPMorgan did not respond to requests for comment.

Golden Finance reports that the currency strategist team at JPMorgan, led by Meera Chandan and Arindam Sandilya, had predicted that the dollar would strengthen after Trump took office this year. However, with the dollar's performance in the first half of the year being the worst in 50 years, the team had to quickly adjust its outlook. The team's view on the dollar turned negative in March and has maintained that stance ever since. The strategists now expect the dollar to fall by about 3% before mid-2026, and then stabilize. However, analysts point out that several key factors complicate the bank's bearish outlook. First, despite the Fed's recent interest rate cuts, U.S. rates remain higher than many other global central banks. They state that this makes global investors more inclined to park their funds in the U.S. and limits the appeal of diversifying investments outside the U.S. More broadly, JPMorgan is concerned about the risks related to the U.S. labor market or growth expectations.

Odaily News The South African Reserve Bank warns: listing cryptocurrencies and stablecoins as new risks poses a significant threat to the national financial sector. (Jin10)

ChainCatcher news, Spain's Renta 4 Banco has obtained the MiCA license issued by the Spanish National Securities Market Commission (CNMV), becoming the fourth bank in the country to legally buy, sell, custody, and transfer encryption assets. This authorization allows Renta 4 to provide institutional custody, receive and transmit order services, and offers transfer services for all clients for digital assets such as Bitcoin (BTC), Ethereum (ETH), etc. Previously, BBVA was the first to obtain the license in March 2025 and launched Bitcoin and Ethereum trading services; Cecabank and Santander Digital Bank Openbank both obtained authorization in July. In addition, Spain has also authorized Deutsche Bank and France through the MiCA European passport.

The European Central Bank report indicates that stablecoins may pose risks to financial stability, especially when investors lose confidence in their redemption capabilities. Tether and Circle, as the largest holders of U.S. Treasury bonds, may trigger a bank run that could lead to the dumping of reserve assets, impacting the $25 trillion U.S. Treasury bond market. Despite pressure on the banking industry, the U.S. continues to support the stablecoin industry, with related regulations like the GENIUS Act aimed at reducing risks.

U.S. Senator Cynthia Lummis criticized JPMorgan's anti-crypto stance and called for an end to the "chokehold action 2.0." She believes that the bank's actions undermine public trust and hinder the development of digital assets, particularly expressing dissatisfaction with JPMorgan's closure of the Bitcoin company Strike's account.

Bank of America predicts that gold prices could reach $5,000 per ounce by 2026, due to factors such as supportive economic policies and tight supply. The average gold price for next year is expected to be $4,538, while also raising forecasts for other metal prices.

Odaily News Citibank analyst Alex Saunders pointed out that $80,000 is a key level for Bitcoin ETF holders, and stated that regulatory breakthroughs next year may restore demand. Therefore, the bank maintains its target price for Bitcoin over the next 12 months at $181,000. Alex Saunders mentioned that interest has not disappeared, but long-term holders are taking a cautious approach, while newcomers believe there is not much reason to get involved when Bitcoin is trading below key technical levels. (CoinDesk)

The European Central Bank released a preview of its financial stability review, predicting that the market capitalization of stablecoins will exceed $280 billion by 2025, with USDT and USDC accounting for nearly 90%. The report warns that the widespread use of stablecoins may weaken banks' funding sources and highlights the need for cross-border risk and global regulatory coordination.

ChainCatcher news, financial technology company Revolut Ltd. has reached a valuation of $75 billion in its latest round of stock sales, a significant rise from last year's $45 billion. This financing round was led by Coatue, Greenoaks, Dragoneer, and Fidelity Management & Research Company, with participation from Nvidia's venture capital arm NVentures, Andreessen Horowitz, Franklin Templeton, and accounts managed by T. Rowe Price. Revolut offers services such as checking and savings accounts, international remittances, Crypto Assets, and stock trading.

According to a report by Bloomberg, the European Central Bank pointed out in the pre-release version of its financial stability assessment report on Monday: "Stablecoins are rising rapidly and may be widely used in new application scenarios, which could pose risks to financial stability in the future." The report will be officially released on Wednesday. One risk mentioned in the report is that if stablecoins are widely adopted, households may replace some of their bank deposits with stablecoins—"this would reduce a key source of funding for banks and make their overall funding more volatile," said the European Central Bank.

Banking giant JPMorgan suddenly closed the bank account of Strike CEO Jack Mallers in September, raising concerns again about the "de-platforming" practices of banks against Crypto Assets executives. "Last month, JPMorgan kicked me out of the bank," the CEO of the Bitcoin payment-focused company wrote on Twitter last Sunday. "This is so strange. My father was a private client there for over 30 years. Every time I asked them the reason, their answer was the same: 'We can't tell you.'"

PANews, November 24, reported by Jin10, Barclays Research points out that there remains uncertainty regarding the Fed's interest rate decision next month, but Chairman Powell is likely to push the FOMC to make a rate cut decision. Based on recent speeches, Barclays believes that governors Mulan, Bowman, and Waller may support a rate cut, while regional Fed presidents Musalem and Schmidt tend to favor keeping interest rates unchanged. Governors Barr and Jefferson, as well as Goolsbee and Collins, have shown that their stance is still unclear but leans more towards maintaining the status quo. Governors Cook and Williams rely on data but seem to support a rate cut more. Barclays stated: "This means that before considering Powell's position, there may be six voters inclined to keep interest rates unchanged and five inclined to cut rates." The bank added that Powell will ultimately dominate this decision, as the threshold for governors to publicly oppose his stance is very high.

Odaily News According to FDIC data, U.S. banks had an unrealized loss of $395 billion in investment securities in the second quarter.

Golden Finance reports that the relaxation of regulations by American banks is expected to release about $2.6 trillion in loan capacity, enhancing their valuation relative to European banks. Analysts believe this will promote lending, mergers and acquisitions, and technology investment, thereby boosting profits and market share, supporting the rise of U.S. bank stock prices.