Polymarket has begun beta testing its US exchange with a limited group of users trading real contracts. Founder Shayne Coplan confirmed at a Miami conference that the platform is processing actual transactions as part of preparations for broader American market access. The move follows the company's acquisition of CFTC-authorized entity QCEX earlier this year.

Polymarket has begun a limited beta release in the United States, allowing select participants to trade with live contracts. The platform settled a $1.4 million penalty with the CFTC in 2022 and has acquired QCX, a CFTC-approved exchange and clearinghouse, to support compliant U.S. operations.

Dromos Labs launched Aero, a unified liquidity hub connecting Aerodrome on Base with Velodrome on Optimism, with plans to expand to Ethereum mainnet and Circle's Arc blockchain. The company also released MetaDEX 03, an operating system designed to enhance cross-chain functionality and boost liquidity provider revenue through dual AER and REV engines. Aero is scheduled to launch in Q2 2026, merging AERO and VERO tokens into a single asset with an initial distribution of 94.5% to AERO holders and 5.5% to VELO holders.

Visa announced a pilot program on November 12, 2025 enabling businesses to send payments directly to stablecoin wallets. The initiative targets freelancers, gig workers, and online creators, delivering funds in USDC and other dollar-backed stablecoins. The program aims to accelerate cross-border transactions by eliminating traditional banking intermediaries.

Major DeFi protocols are adopting corporate-style token buyback mechanisms to link governance tokens directly to protocol revenue. Uniswap proposed activating protocol fees to repurchase and burn UNI tokens on November 10, while Lido introduced an automated buyback system for LDO tied to staking revenue thresholds. These initiatives represent a shift from incentive-driven growth models toward revenue-focused capital allocation strategies.

JPMorgan Chase has launched a pilot program for its JPM Coin deposit token (JPMD) on Base, Coinbase's Ethereum Layer 2 network. The token represents digitized U.S. dollar-denominated commercial bank deposits backed by JPMorgan's balance sheet. The initiative enables institutional clients to conduct real-time settlements and marks a shift toward integrating traditional banking infrastructure with public blockchain systems.

JPMorgan Chase has introduced JPM Coin, a USD deposit token built on the Base blockchain, enabling round-the-clock settlement for institutional clients. The token allows direct US dollar transactions without time restrictions, according to Naveen Mallela, global co-head at Kinexys. Mastercard and Coinbase participated in early pilot testing of the system.

Lighter, a Layer-2 decentralized exchange, has closed a $68 million funding round at a $1.5 billion valuation. Founders Fund and Ribbit Capital led the investment, with participation from Haun Ventures and Robinhood. The already-profitable platform plans to launch spot trading and pursue global expansion.