TCB Daily Edition: November 12, 2026 – Crypto Sector Tracks Binance Recovery, Tokenization Deployments, and New Regulatory Directions

Binance announced another step in its recovery from October’s security breach, while DTCC outlined plans to connect its tokenization service to Solana. Banking partnerships, stablecoin integrations and new regulatory guidance feature in today’s edition.

Binance Says Asset Replacement Is Complete

Binance completed the replacement of customer assets impacted by the October 29 security breach and released a new proof‑of‑reserves snapshot. A zero‑knowledge proof was still in generation, delaying independent verification of the snapshot’s claimed minimum 1:1 backing. The update pertains to asset replacement only and does not confirm recovery of the stolen cryptocurrency.

DTCC Plans to Connect Its Tokenization Service to Solana

DTCC plans to tokenize eligible securities held by its DTC subsidiary and launch the service on the Solana blockchain in the second half of 2027. The tokenization builds on a program that began in October, ensuring that blockchain‑based positions will retain the ownership rights and investor protections of the underlying securities.

BNY Selects Figment for Institutional Staking

BNY will harness Figment’s validator infrastructure to add staking capabilities to its digital‑asset custody platform. Initially, Ethereum will be supported, with Solana slated to follow, enabling eligible institutional clients to earn staking rewards on assets held through the bank. No launch date has been disclosed.

Visa Adds Western Union’s USDPT as a Settlement Option

Anchorage Digital partnered with Visa to enable settlement of VisaNet obligations using Western Union’s USDPT stablecoin. Anchorage Digital Bank issues the token, which operates on the Solana network. The companies also outlined a framework to evaluate additional Anchorage‑issued stablecoins for future settlement use.

SoFiUSD Expands to Polygon

SoFi’s USDC‑based stablecoin has extended to the Polygon network, joining its Ethereum and Solana support. Users can buy, sell, trade, and convert SoFiUSD through the SoFi app, while businesses can access it via Polygon’s payments infrastructure. The token can be redempted for US dollars through SoFi Bank, though it is not FDIC insured.

New York Sets a Deadline for Crypto Marketing Policies

The New York State Department of Financial Services issued guidance requiring virtual‑currency businesses it licenses or chartsers to adopt clearer marketing policies. Firms must update their disclosures by May 10, 2027, covering verifiable claims, third‑party promoter oversight, and other areas. The regulator also expects annual reviews and readily accessible records for supervision.

Tether Announces a Completed Audit of Its Gold‑Token Issuer

Tether reported that KPMG U.S. issued an unqualified opinion on the 2025 financial statements of TG Commodities, the operator of XAUT. The audit, which included physical inspection and counting of individual gold bars, concluded that the company holds approximately 520,089 fine troy ounces of gold valued at $2.246 billion, providing backing for outstanding XAUT tokens.

Securitize and Ethena Activate BUIDL Liquidity Facility

Securitize and Ethena launched a liquidity facility allowing holders of BlackRock’s BUIDL tokenized fund to exchange positions for supported stablecoins outside normal market hours. The facility starts with $50 million in liquidity, split evenly between BUIDL and USDC, with an additional $50 million available within an hour as capacity is consumed. The launch marks the operational start of an initiative announced earlier this year.

BitGo Adds USDC Minting and Redemption

BitGo introduced USDC minting and redemption through its regulated trust‑bank subsidiary, accessible to eligible Go Account customers. Orders are routed via BitGo’s Circle Mint account, with fees disclosed before transaction confirmation. Blockchain processing can operate continuously, while dollar deposits and withdrawals remain subject to banking schedules.

Tron, Tether and Chainalysis Form Crime Task Force

Tron, Tether, and Chainalysis established a Digital Crime Task Force targeting illicit activity involving USDT on the Tron network. The collaboration combines transaction intelligence with law‑enforcement coordination, focusing on investment scams, hacks, terrorist financing, and North Korean cybercrime.

Griffin Raises $20 Million for Banking and Stablecoin Expansion

UK bank Griffin announced a $20 million Series B round led by Octagon Partners, valuing the business above $100 million. The financing will support card issuance and the development of stablecoin services, including reserve capabilities and blockchain‑based cross‑border payments, as extensions to Griffin’s existing banking platform.

Jupiter Opens a USDGO Lending Market

Jupiter launched a lending market for USDGO on Solana, where users can supply the stablecoin for interest or borrow against supported cryptocurrency collateral. USDGO is issued by Anchorage Digital Bank and operated and distributed by OSL Group. Bitget Wallet has integrated the market, providing on‑wallet access to lending and borrowing functions.

MidChains Partners With Standard Chartered

MidChains announced a banking partnership in which Standard Chartered will provide fiat settlement, separate client‑money accounts, and correspondent banking services. The arrangement supports the UAE digital‑asset platform’s institutional operations and facilitates fund movement between banking and cryptocurrency markets. MidChains holds a broker‑dealer license from Dubai’s Virtual Assets Regulatory Authority.

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