BBX: Institutional buying continues to diverge: Multinational listed companies increase holdings of BTC, ETH, and Filecoin

**[Fed's Bond Purchase Exceeds Expectations, Prompting Wall Street to Revise 2026 Forecast]** The Federal Reserve plans to purchase $40 billion in short-term U.S. Treasury bonds monthly, exceeding market expectations and driving borrowing costs lower, prompting Wall Street banks to revise their 2026 debt issuance forecasts. Barclays estimates that the Fed's total bond purchases by 2026 will reach nearly $525 billion, while JPMorgan Chase and TD Securities also believe the Fed will absorb a larger scale of debt. Bank of America predicts that this pace of purchases will need to be sustained for a longer period to replenish reserves and stabilize money market rates. Strategists point out that these measures will help ease market pressures, benefiting swap spreads and SOFR-Fed funds basis trades. On Wednesday, short-term interest rate futures trading volume surged, and the two-year swap spread widened to its highest level since April.

[Circle's Euro Stablecoin EURC is Now Live on World App] Circle's Euro stablecoin EURC is now live on World App. Users can now buy, sell, and send EURC in the World Wallet.

[Jupiter to Launch Stablecoin JupUSD Next Week] Jupiter COO Kash Dhanda announced at the Solana Breakpoint event that the stablecoin JupUSD will be launched next week. Upon launch, JupUSD will simultaneously enable real-time trading and yield functionalities, with plans to introduce a third use case in Q1 2026. News from October revealed that Ethena collaborated with Jupiter to launch the Solana ecosystem's native stablecoin JupUSD.

Ripple has officially completed the acquisition of stablecoin platform Rail for a transaction amount of $200 million. （Cointelegraph）

[Crypto-Friendly Bank Nubank Considers Acquiring a Small Bank in Brazil to Retain Brand Name] With Brazil passing new regulations in November prohibiting non-licensed entities from using the term 'bank' or similar expressions in foreign languages in their branding, crypto-friendly bank Nubank is considering acquiring a small licensed bank to comply with regulations and retain its name. According to insiders, acquiring a bank with accumulated losses could provide tax credits. Although Nubank has not made a final decision and may still apply for a new license from Brazil's central bank, the acquisition route could avoid the lengthy process and high costs associated with applying for a license.