Good morning!

Impact Onchain goes live today at 11:00 CET — our webinar on what happened to the FirstBlock-athon teams after Stockholm. Elsewhere, OpenAI and Anthropic are pushing further into each other's turf and Google and Microsoft's, bitcoin is wobbling on a hotter-than-expected inflation print, and traditional finance keeps building tokenisation rails — from NYSE's pick of Avalanche to Schwab adding three new tokens to trade.

Some stories in Kaupr Daily:

💎 Goldman, Citi and 19 more banks commit $270M to a new stablecoin venture

💎 NYSE picks Avalanche as settlement ledger for tokenised stocks

💎 Anthropic answers OpenAI's business push with Claude Sheets, Meetings, Data and Duet

Plus: K33 says bitcoin is "ripe for a squeeze," Schwab adds Solana, Avalanche and Chainlink, and Danish Sumary raises $25m for AI in accounting.

— Morten

Watch and join the live chat: https://www.kaupr.io/blockathon-stockholm

OpenAI launched a beta Business Hub that lets companies create and verify profiles inside ChatGPT, build "business agents" that answer customer questions, and track metrics like profile views and website clicks — resembling Google's own business-profile tools. It follows an earlier, discontinued attempt to turn ChatGPT into a checkout-enabled shopping hub.

Why it matters: With 1.2 billion weekly users, OpenAI is betting ChatGPT can become where people discover businesses before they search Google — not just where they shop.

Source: OpenAI rolls out new business profiles, making ChatGPT just a little bit more like Google — TechCrunch

Anthropic used a San Francisco event to launch a cluster of workplace tools: Claude Sheets (spreadsheets with built-in AI editing), Claude Meetings (Claude joins Google Meet calls and starts drafting plans while people are still talking), Claude Data (formerly Claude Dashboards, now generally available) and new interactive connectors into apps like Adobe, Atlassian and HubSpot. A separate research preview, Claude Duet, lets Pro/Max/Ultra users in the US message Claude "like a person" to handle tasks across their connected apps.

Why it matters: The launch is widely framed as Anthropic taking on Microsoft and Google's office suites — though Anthropic's own product lead downplayed the rivalry, calling Sheets "fairly basic" and noting "there's a time and place" for the incumbents' tools too.

Source: Anthropic launches Claude Meetings to turn workplace discussions into plans and tasks — TechCrunch

Bitcoin fell about 1.2% within minutes of October's CPI report, touching a low near $73,400 before steadying in the high-$73,000s. Headline CPI rose 0.4% and core CPI 0.3% — both roughly 0.1 percentage point above forecasts — keeping pressure on the Fed ahead of its December meeting.

Why it matters: The report carried no 12-month inflation rate at all, since October 2025 prices were never surveyed during last year's government funding lapse — leaving traders reacting to a monthly print with less context than usual.

Source: Bitcoin drops below $74,000 as core inflation runs above forecasts — Unchained

Bitcoin has posted five straight red weekly candles, slipping toward its 200-day moving average near $73,137, K33 Research writes in its latest Ahead of the Curve note. Spot volume, open interest and volatility are all near multi-year lows even as perpetual futures open interest sits in the 99th percentile of the past two years — a combination K33 says has historically preceded sharp moves in either direction. Bitcoin's 30-day correlation with Nasdaq has climbed toward yearly highs, making its near-term direction largely dependent on how equities trade into the FOMC meeting and Anthropic's November 18 IPO.

Source: Ahead of the Curve, November 10: Ripe for a squeeze — K33 Research

Asian stocks rose for a third straight day, led by tech shares and helped by CoreWeave's strong earnings and expectations around Anthropic's heavily oversubscribed IPO. But regional bonds sold off hard — US two-year yields jumped 17 basis points, their biggest one-day move in 19 months — as traders priced in a likelier Fed rate hike after the hot inflation print. Bitcoin was little changed, trading near $73,683.

Source: Asian stocks rise on AI enthusiasm, bonds slide: Markets Wrap — Swissinfo

Goldman Sachs, Citigroup and 19 other banks — including Bank of America, Wells Fargo, Santander, Deutsche Bank and MUFG — are reportedly committing about $270 million to Project Faro, a planned US-incorporated stablecoin issuer first announced in September. The initial token will be pegged to the dollar, with a euro-denominated version planned next; the group is targeting a market launch in the first half of 2027 and still needs to name a CEO.

Why it matters: Tether and Circle control about 84% of the roughly $293 billion dollar-stablecoin market — this is the clearest sign yet that traditional banks want a seat at that table rather than leaving it to crypto-native issuers.

Source: Goldman Sachs, Citi among banks said to commit $270 million to stablecoin venture — CoinDesk

NYSE, owned by ICE, will use Avalanche's blockchain for clearing and settlement on its planned tokenised stock and ETF platform, targeting a Q4 launch pending SEC approval. NYSE will run its own customised, permissioned Avalanche-based chain rather than the public network, and the platform will settle continuously and be funded with stablecoins while shareholders keep normal rights like voting and dividends.

Why it matters: NYSE's Dennis Lee framed it as picking "the right technology for each job" — a contrast to rival venue OKXICE, which hit a setback when 67 companies, including all of the "Magnificent Seven," opted out of having their shares tokenised without consent.

Source: NYSE has picked Avalanche as settlement ledger for tokenised stocks — kaupr.io

The Bank of Lithuania extended Axiology's MiFID investment-firm authorisation to cover receiving, transmitting and executing client orders — meaning the regulated infrastructure provider can now handle order-taking, trading, settlement and custody of tokenised securities all under one roof. Axiology has operated under an EU DLT Pilot Regime authorisation since July 2025 and was among the first DLT operators connected to the Eurosystem's Pontes settlement service.

Why it matters: CEO Marius Jurgilas says the move removes a key friction point for institutions: "there's little benefit in simplifying the technology if investors still have to navigate a complicated process to access it."

Source: Axiology has received extended MiFID licence for tokenised assets — kaupr.io

Charles Schwab added Solana, Avalanche and Chainlink to Schwab Crypto, bringing the platform to five tradable digital assets alongside bitcoin and ethereum. Trading costs 75 basis points per trade, which Schwab calls among the lowest in the industry; the platform rolled out to all eligible retail clients in October after a May soft launch.

Why it matters: One of the largest US brokerages is steadily widening retail access to crypto beyond bitcoin and ether, with Schwab saying more assets are planned.

Source: Charles Schwab makes Solana, Avalanche and Chainlink available to trade through Schwab Crypto accounts — Business Wire

Sumary, a Danish startup building what it calls "an operating system for accounting work," raised a $25 million seed round led by Singular — the largest seed round for accounting software in Europe, the company says. Its AI runs core workflows like month-end close, VAT returns and year-end prep across any ledger, with clients including Deloitte, Grant Thornton and Baker Tilly; it plans to expand from the Nordics and UK into Benelux next.

Why it matters: CEO Pascar Sivam argues the accounting industry doesn't have enough people to do manual prep work, and that AI handling it frees remaining accountants to focus on judgement rather than data entry.

Source: Danish Sumary raises $25m for AI in accounting — kaupr.io

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Wishing you a great Wednesday — and welcome back tomorrow morning for the next edition of Kaupr Daily.

Best regards
Morten Myrstad
Founder & Editor