Payments Daily · Wednesday, November 4, 2026Daily
PAY.NEWS
Binance Suffers $6.36 Billion Theft, Setting Crypto Theft Record
Binance suffered an approximately $6.36 billion theft, with TRM Labs saying most of the funds were transferred out within about 20 minutes, making it the largest known cryptocurrency theft by losses. The U.S. OCC simultaneously established a regulatory pathway for community banks to issue stablecoins through subsidiaries, while a Polymarket-affiliated entity was approved to register as a futures commission merchant.
Payments & Infrastructure
Fintech News Hong KongAnt International Completes Cross-Bank Transfer in Hong Kong Within Five Minutes in EnsembleTX Pilot
Ant International completed Hong Kong dollar cross-bank transactions with three banks in the HKMA’s EnsembleTX pilot, with transfers taking less than five minutes. The transactions took place from September to October 2026, were initiated through WhaleRTP, and settled using central bank money; the company said this approach reduces the need for pre-positioned liquidity. Ant International plans to further develop capabilities for AI agents to autonomously make and execute treasury management decisions.
Stablecoins & On-chain
Fintech News SingaporeBinance Suffers US$6.3 Billion Theft, Four Times the Previous Crypto Theft Record
Binance suffered a US$6.36 billion theft on October 29, 2026. TRM Labs said most of the funds were transferred out within about 20 minutes, making it the largest known cryptocurrency theft by losses.
PYMNTSOCC Establishes Pathway for Community Banks to Issue Stablecoins Through Subsidiaries
The OCC said in its final GENIUS Act rules that community banks may issue stablecoins through subsidiaries, while retaining a $5 million minimum capital threshold. Issuers must back the value of stablecoins in circulation with eligible reserves, and operating reserves generally must equal 12 months of expenses. The rules will take effect on Jan. 18, 2027.
Binance Discloses $6.3B Wallet Theft: Attackers Gained Access Through Fake Interviews and AI Tools
In an incident report on November 3, Binance said attackers ultimately obtained wallet-related access and stole $6.3B through compromised software, fake job interviews, and internal AI tools. The attackers transferred 233.46 million XRP from five active wallets within four minutes; Binance said $2.85B had been frozen or intercepted, while Elliptic estimated that approximately $3.18B remained in wallets linked to the theft. Binance experienced $4.72B in net outflows after the incident, while the company said it would strengthen AI monitoring and commission an independent security review.
Regulation & Compliance
Polymarket-Affiliated Entity PM Derivatives Approved by NFA to Register as an FCM
The U.S. National Futures Association (NFA) approved Polymarket-affiliated entity PM Derivatives, LLC to operate as a futures commission merchant (FCM), allowing it to accept and hold customer orders and funds. The brokerage will initially require customers to fully collateralize positions for each trade; offering margin services in the future will require additional regulatory approval, while existing brokerage arrangements will remain in place.
RBI Issues Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations
The RBI issued the Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations, stating that they will take effect on October 1, 2026.
FCA Clarifies Firm Requirements for Motor Finance Compensation Settlement Scheme
The FCA clarified that while legal challenges are ongoing, lenders may make settlement offers to customers who are eligible for motor finance compensation, but the amount may not be lower than the compensation scheme standard. Firms must explain the consequences of accepting an offer and provide customers with the explanatory document published by the FCA; customers may reject the offer and continue to pursue their claims through the compensation scheme. A survey showed that 89% of relevant customers want the option to accept a compensation offer now, while 61% said they would accept an offer that meets the scheme standard.
CFTC Chair Announces That Markets Meeting Dual-Registration Conditions May Begin Trading Single-Stock Perpetual Futures
CFTC Chair Michael S. Selig issued a statement saying that single-stock perpetual futures may begin trading on designated contract markets that meet the dual-registration conditions. These markets must also be registered with the SEC as national securities exchanges for trading security futures products. Selig said the move is intended to allow U.S. market participants to access these products under the CFTC’s regulatory framework and advance regulatory coordination between the CFTC and SEC.
Companies & Markets
Fintech News Hong KongHKEX Accepts RMB Bonds as Margin Collateral for Listed Derivatives
HKEX has begun accepting eligible RMB bonds at its listed derivatives clearing houses as non-cash collateral for margin requirements. HKCC and SEOCH may accept Chinese government bonds, policy bank bonds, and offshore-issued MOF Bonds held through Northbound Bond Connect. On the first day, November 2, 2026, seven institutions submitted eligible bonds valued at more than RMB 400 million.