Web3 Industry Weekly Report: Highlights from Week 2 of November 2025
Tech Headlines
1. StarkWare launches privacy‑focused S‑two prover; ZAN provides high‑performance GPU acceleration
https://www.theblock.co/post/377248/starkware-deploys-s-two-prover-starknet
The Block reports StarkWare has deployed its next‑generation open‑source S‑two prover on Starknet mainnet, calling it the fastest production‑grade prover with the most complete privacy features. The upgrade replaces the network’s prior proving components and can now produce validity proofs per block, shortening proving time, lowering verification costs, and improving throughput and scalability while preserving trustlessness. The system also enables independent operators to contribute compute resources, enhancing censorship resistance. A key feature of S‑two is efficient operation on consumer‑grade hardware — users can generate privacy proofs directly from laptops, phones, and browsers without relying on centralized data centers. StarkWare says this makes large‑scale privacy practical, allowing users to prove attributes such as age, credentials, or transaction intent without revealing sensitive data, and enabling new use cases like privacy‑preserving DeFi, anonymous identity, verifiable AI, and zero‑knowledge security games.
Notably, ZAN’s engineering team built a high‑performance GPU acceleration engine for S‑two to further boost proving performance and has open‑sourced the solution jointly with StarkWare.
2. ZAN launches x402 Facilitator service
ZAN has officially launched its x402 Facilitator service. Built on the x402 protocol, the service provides a one‑stop payment verification and settlement solution for payees, substantially lowering the integration bar for Web3 payments. Using clustered, elastically scalable infrastructure, the Facilitator is designed for high availability and high‑TPS use cases. As an optional managed service, x402 Facilitator supports payment verification (validating payment receipts), on‑chain settlement (executing blockchain transactions on behalf of payees), and result feedback (real‑time callbacks to assist server‑side authorization). Developers can enable secure, real‑time, and accurate on‑chain payments without running their own nodes or implementing complex verification logic, improving development efficiency and user experience.
ZAN’s official x402 Facilitator currently supports networks such as Jovay and Pharos and also integrates Base, Polygon, Solana and others. ZAN says it has built Trustless Agentic Payment primitives on x402 and ERC‑8004 and will release more product and technical details soon.
3. Solana, Fireblocks, Monad and others collaborate to standardize cross‑chain payments
https://www.theblock.co/post/377881/solana-fireblocks-monad?utm_source=rss&utm_medium=rss
The Block reports that projects including Solana, Fireblocks, Monad and Polygon are cooperating to develop a common framework for cross‑chain payments. The newly formed Blockchain Payments Consortium (BPC) aims to define a universal framework that aligns with the convenience and data requirements of traditional payments and improves cross‑chain stablecoin user experience.
BPC members seek to address the challenges of converting between legacy payment rails and blockchain payments. Current members include the Stellar Development Foundation, TON Foundation, Solana Foundation, Monad Foundation, Fireblocks, Polygon Labs and Mysten Labs.
Industry Dynamics
1. Standard Chartered: crypto custody for Bitcoin and Ethereum to launch in Hong Kong next year
https://www.panewslab.com/zh/articles/8d8ee562-b901-4c34-a5eb-2350a89726c5
Ming Pao reports Standard Chartered’s Hong Kong and Greater China & North Asia CEO said the bank will roll out digital‑asset solutions in Hong Kong next year, including custody services for Bitcoin and Ethereum and strategic partnerships with other institutions. The bank plans to debut BTC and ETH custody in Hong Kong in January, expanding services it already offers in Luxembourg and the UAE (via DIFC).
2. CFTC expected to allow stablecoins as tokenized collateral in derivatives markets
Sources reported Nov 9 that the U.S. Commodity Futures Trading Commission (CFTC) is drafting a tokenized collateral policy expected early next year that could permit the use of stablecoins as acceptable tokenized collateral in derivatives markets. Pilots may run initially at U.S. clearinghouses, with stricter regulatory requirements including expanded disclosures (positions, large traders, volumes) and more detailed reporting of operational incidents.
3. Japan FSA to support three major banks’ joint stablecoin issuance experiment
https://www.coindeskjapan.com/323009/?utm_source=twitter&utm_medium=ifttt
On Nov 7 the Japan Financial Services Agency announced it will support an experimental project for joint stablecoin issuance involving Mitsubishi UFJ, Sumitomo Mitsui and Mizuho.
The experiment is the first supported case under the new “Payment Innovation Project” (PIP) and aims to stimulate payment‑sector innovation.
Other participants include Mitsubishi Corporation (business partner), Progmat (issuance infrastructure) and Mitsubishi UFJ Trust Bank (expected trust functions).
4. Canada plans stablecoin regulation under its 2025 federal budget framework
https://cointelegraph.com/news/canada-budget-2025-promises-regulate-stablecoins
Following the U.S. stablecoin law, Canada plans to introduce legislation for fiat‑backed stablecoins within its 2025 federal budget framework.
Proposed requirements include sufficient reserves, redemption policies, and risk‑management frameworks covering protections for personal and financial data.
The Bank of Canada will allocate CAD 10 million over two years from FY2026–27 to support regulatory implementation, with recurring costs expected (partially offset by regulated stablecoin issuers under the Retail Payments Activities Act).
While timing for bill introduction is not specified, the initiative is part of Canada’s broader “payments modernization” agenda to deliver faster, lower‑cost, and more secure digital transactions for 41.7 million residents.
In-Depth Analysis
1. Aave founder warns immutable oracles and interest‑rate mechanisms risk lending protocols; asset managers’ conflicts amplify systemic risk
https://x.com/StaniKulechov/status/1986216187437719570
On Nov 6 Aave founder Stani Kulechov commented that losses in the Stream incident were driven by high leverage, directional trades, and opaque fund usage. He argued DeFi projects should prioritize standardization and information disclosure, and that treasury operations must not chase yield at the expense of risk management. Stani warned that immutable oracle price feeds combined with rigid rate‑curve mechanics can pose existential risks to lending protocols. He added that some asset managers take excessive risk to gain competitive advantage, amplifying systemic fragility. The ecosystem faces challenges: investors lack full due diligence and protocol‑level integrations carry underappreciated risks.
Disclaimer: The information provided in this document is based on publicly available market data and industry trends, and is for reference only. Please note that this information does not constitute any form of investment advice or recommendation, nor should it be considered as the basis for buying or selling any financial products or services. In case of any translation errors in English, inaccuracies, or situations requiring further clarification, please contact us through 'Contact Us' so that we can verify and make necessary corrections in a timely manner.
About ZAN
As a technology brand of Ant Digital Technologies for Web3 products and services, ZAN provides rich and reliable services for business innovations and a development platform for Web3 endeavors.
The ZAN product family includes ZAN Node Service, ZAN PowerZebra (zk acceleration), ZAN Identity (Know your customers and clients), ZAN Smart Contract Review, with more products in the pipeline.