Digital banking platform SoFi Technologies has launched Big Business Banking, a platform that allows companies to manage fiat and crypto transactions within a single regulated system.

According to Thursday’s announcement, the offering enables companies to hold deposits, move funds and settle transactions around the clock using either traditional currencies or digital assets, consolidating functions that have typically been split across banks, custodians and crypto service providers.

It also introduces support for issuing and redeeming the company’s stablecoin, SoFiUSD, allowing businesses to convert between fiat and onchain assets while keeping reserves within a regulated banking environment.

The rollout includes participation from companies such as Cumberland, BitGo, Bullish, B2C2, Fireblocks, Wintermute, Jupiter, Galaxy, Mesh Payments and Mastercard, reflecting early demand from trading, payments and infrastructure providers.

SoFi said the system is expected to connect with blockchain networks, including Solana, to support onchain settlement.

The move comes as the bank has been pushing deeper into digital assets. In June, SoFi resumed crypto trading, enabling users to buy, sell and hold digital assets, and expanded blockchain-based remittance services to more than 30 countries. 

In December, it launched SoFiUSD, a fully reserved dollar-backed stablecoin issued by its banking subsidiary, redeemable on demand and initially deployed on Ethereum.

Related: Standard Chartered says faster stablecoin turnover could curb demand

Crypto companies build digital asset infrastructure for institutions

While SoFi is expanding from the banking side, crypto-native companies are building similar infrastructure to integrate digital assets into institutional systems.

In March, crypto infrastructure platform BitGo launched a financing platform that enables institutions to borrow and lend against liquid, staked and locked assets within a single custody account.

In January, Fireblocks acquired crypto accounting platform TRES for $130 million, adding tax and compliance capabilities as institutions seek audit-ready reporting for digital asset operations.

This week, Ripple added digital asset capabilities to its treasury platform, enabling companies to manage crypto and fiat balances in one system.

Beyond expanding services for institutional clients, several platforms are also pursuing US banking licenses. On Wednesday, crypto exchange EDX Markets applied to the Office of the Comptroller of the Currency to establish a national trust bank, aiming to separate custody and settlement from trading through a non-depository entity called EDX Trust.

Earlier this month, Zerohash applied for a national trust bank charter to expand its stablecoin and custody services, joining applicants including Coinbase, Laser Digital and Payoneer as companies seek regulatory approval to offer integrated crypto financial services.

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EDX Markets, an institutional crypto exchange, has applied to the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank that would provide crypto custody, asset management and trade-settlement services.

The proposed entity, EDX Trust, would operate as a non-depository national bank, separating custody and settlement from trading while continuing to route order matching through EDX’s existing platform.

In its application, the company said the model is intended to address structural risks in crypto markets, where trading, custody and brokerage are often combined within a single platform, creating potential conflicts of interest and single points of failure.

EDX said the trust bank would provide fiduciary asset management services, invest client cash and stablecoin balances in highly liquid assets, and facilitate trading through a riskless principal model with end-of-day net settlement.

The bank would operate online from Chicago and target institutional clients such as broker-dealers, futures commission merchants and registered investment advisers, according to the filing.

EDX said moving these functions into an OCC-chartered entity would allow it to offer services nationwide under a single regulatory framework while meeting custody requirements for regulated institutions.

Founded in 2022, EDX Markets is backed by traditional market participants including Citadel Securities, Virtu Financial, Fidelity Digital Assets and Hudson River Trading.

Related: Fed’s Barr backs stablecoin clarity but warns of run risks

Crypto companies seek US bank charters

The application comes as crypto and financial companies increasingly pursue national trust bank charters to expand institutional services under federal oversight.

Earlier this month, Zerohash, a blockchain infrastructure company, applied for a US national trust bank charter to expand its stablecoin and custody services for banks, brokerages and fintechs.

Other recent applicants include Coinbase, which applied in October and is still awaiting a decision, as well as Laser Digital and Payoneer, which filed applications earlier this year to expand custody and stablecoin-related payment services.

Traditional financial institutions are also entering the space. In February, Morgan Stanley applied for a de novo trust bank charter to support digital asset services through a separate entity.

At the same time, the OCC has continued approving applicants, issuing conditional licenses last month to Bridge, Stripe and Crypto.com, following approvals in December for Ripple Labs, Circle Internet Group, Fidelity Digital Assets, Paxos and BitGo.

However, the pace of approvals has drawn scrutiny. In February, the American Bankers Association urged the OCC to slow the process, citing unresolved oversight under pending US stablecoin legislation.

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Ripple has added digital asset capabilities to its treasury management platform, allowing corporate finance teams to hold, track and manage cryptocurrencies and fiat balances within a single system, the company said.

According to a company announcement, the update introduces Digital Asset Accounts and a unified dashboard that aggregates balances across bank accounts, custody providers and onchain wallets, giving treasury teams real-time visibility into both cash and digital assets.

The system supports assets including XRP (XRP) and Ripple USD (RLUSD), with balances updated in real time and recorded alongside fiat transactions. APIs connect external custodians and sync activity into the platform, according to Ripple.

Ripple said the update embeds digital asset functionality directly into its treasury system, rather than requiring separate crypto platforms. The company said this could reduce reliance on manual reconciliation and fragmented reporting across banking and custody systems.

Mark Johnson, chief product officer at Ripple, told Cointelegraph the shift is about making digital assets “a core part of treasury operations,” allowing companies to manage them alongside traditional balances while enabling use cases such as stablecoin settlement and yield on idle cash.

The launch follows Ripple’s October acquisition of GTreasury for $1 billion. The company said the product is already live for customers in beta ahead of a broader rollout, with availability varying by jurisdiction depending on regulatory requirements and geography.

Related: Ripple CEO says stablecoins could be crypto’s ‘ChatGPT moment’ for businesses

Digital assets move into financial infrastructure

A survey published by Ripple in March found that 72% of more than 1,000 global finance leaders believe companies must offer digital asset solutions to remain competitive, reflecting growing focus on custody, security and infrastructure.

The findings point to a broader shift from adoption to integration, as institutions look to incorporate these assets into existing financial systems rather than manage them separately.

That transition is driving increased activity across financial infrastructure. In July, Visa expanded its settlement platform to support additional stablecoins and blockchain networks, building on its initial use of USDC (USDC) for settlement in 2021.

Banks have also begun integrating tokenized money into their operations. In November, JPMorgan expanded access to its JPM Coin deposit token, allowing institutional clients to move funds on blockchain networks for real-time settlement.

Similar efforts are emerging in credit and capital markets. In October, Securitize and BNY Mellon said they would collaborate to bring instruments such as collateralized loan obligations onchain.

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Cross-border payment infrastructure provider Tazapay said it closed an extension to its Series B funding round led by Circle Ventures, bringing the total raised to $36 million. The round included participation from Coinbase Ventures, CMT Digital, Peak XV Partners and Ripple. 

Tazapay said on Thursday that the funding will be used to • expand its digital settlement technology for cross-border payments, secure additional licenses, expand across Asia, Latin America, the Middle East and the Americas, and build infrastructure for so-called “agentic payments.”

Tazapay said it serves over 1,000 enterprises and fintechs across 30 countries. It holds licences across Singapore, Canada, Australia, and the United States, with active applications underway in the European Union, United Arab Emirates and Hong Kong.

“The demand we’re seeing from enterprises and fintechs across Asia, LATAM, and the Middle East is unmistakable; businesses want to move money faster, cheaper, and with full regulatory confidence,” said Kanupriya Sharda, chief business officer at Tazapay.

Cointelegraph asked Tazapay whether it would disclose the size of the extension tranche and the company’s valuation, but had not received a response by publication.

Stablecoin payment infrastructure draws backers

The extension comes as crypto and fintech firms push deeper into stablecoin-based cross-border payments infrastructure.

On March 3, Ripple said it had expanded Ripple Payments into an end-to-end stablecoin and fiat platform for banks and fintechs. The company said the platform is live in more than 60 markets and has processed more than $100 billion in volume.

Related: Ripple joins Singapore sandbox to test RLUSD in trade finance

In May 2025, Boston-based cross-border payment company Conduit raised $36 million in a Series A funding round led by Dragonfly and Altos Ventures to scale its payment system and expand fiat and stablecoin currency offerings.

Conduit positions its payment system as an alternative to the SWIFT messaging network, which banks have relied on to process wire transfers since the 1970s.

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Financial technology company Ripple said Wednesday it had joined the Monetary Authority of Singapore’s (MAS) BLOOM initiative with supply chain finance technology firm Unloq to test programmable cross-border trade settlement using the XRP Ledger and Ripple USD.

The pilot will use Unloq’s SC+ smart-contract-driven trade finance infrastructure, which integrates trade obligations, settlement conditions and financing workflow into a single execution layer. The pilot will also utilize Ripple’s XRP Ledger (XRPL) and its stablecoin designed for enterprise use cases, Ripple USD (RLUSD), the announcement states.

MAS launched BLOOM, short for Borderless, Liquid, Open, Online, Multi-currency, in October 2025 to extend settlement capabilities using tokenized bank liabilities and regulated stablecoins.

The pilot comes a little under four months after Ripple said MAS had approved an expanded scope of payment activities for the major payment institution license held by its Singapore subsidiary, Ripple Markets APAC, in December 2025.

Ripple and Unloq said the pilot will use digital settlement assets, including stablecoins and tokenized bank liabilities, with RLUSD payments released when predefined commercial conditions are met. The companies said the model is intended to improve visibility into settlement risk and support trade-finance access for smaller businesses.

Cointelegraph reached out to Ripple for comment on the timeline and details of the pilot initiative.

Related: Stablecoin issuers and fintechs race to own payment rails

Singapore embraces tokenization

Singapore has continued to expand its tokenization agenda across payments, settlement and capital markets.

On Nov. 13, 2025, MAS announced plans to issue tokenized MAS bills to primary dealers, which will be settled using its wholesale central bank digital currency. The central bank said it will share more details about this future trial in 2026.

A day later, on Nov. 14, MAS updated its Guide on Digital Token Offerings to clarify how Singapore’s Securities and Futures Act (SFA) applies to tokenized capital market products and issuing entities. The new guide included case studies, disclosure expectations, and pilot program criteria for the responsible development of tokenization initiatives.

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In a survey released on Thursday, Ripple said 72% of more than 1,000 global finance leaders believe companies must offer digital asset solutions to stay competitive.

The survey found stablecoins were the most prominent use case, with 74% of respondents saying they can boost cash flow and unlock trapped capital.

The report polled around 1,000 finance firms globally, including banks, asset managers, fintechs and corporates, on adoption, stablecoins, tokenization and custody priorities.

The findings suggest many financial firms are focusing less on whether to engage with digital assets and more on how to buy, build or partner for the infrastructure needed to support them.

Ripple said the shift toward digital assets is being driven by evolving regulation, growing interest from large banks, increased use of fintech services and the rise of stablecoins.

Stablecoins top the survey’s digital asset use cases

Respondents showed the strongest interest in stablecoins. “That unanimity makes it clear that finance leaders are thinking about stablecoins as more than just a new way to execute payments,” Ripple said, adding that institutions increasingly view them as tools for treasury management.

The survey suggests fintech firms are leading adoption. Around 47% of fintech respondents said they plan to build their own digital asset solutions, compared to 14% of corporates. In contrast, 74% of corporates said they intend to work with external providers.

Banks and asset managers prioritize digital asset custody

The survey showed growing interest in tokenization, with banks and asset managers prioritizing digital asset custody, or secure storage. Some 89% of those evaluating tokenization partners cited secure storage as a top concern, while token lifecycle management and primary distribution ranked at 82% and 80%, respectively.

Bank respondents also indicated strong demand for advisory support, with 85% citing pre-issuance structuring as important, compared to 76% of asset managers.

Related: 74% of institutions expect crypto prices to rise in 12 months: Survey

“This indicates that many institutions are seeking experienced partners to guide implementation alongside technology deployment,” Ripple said.

When choosing infrastructure partners, 97% of respondents highlighted the importance of security certifications such as ISO and SOC II.

The survey underscores that digital assets are no longer optional. “Most finance leaders aren’t debating digital assets anymore,” Ripple said in a post on X, adding: “They’re figuring out how to build with them and who to build with.”

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XRP digital asset treasury Evernorth has submitted a key filing with the SEC, putting it a step closer to its goal of going public on the Nasdaq stock exchange.  

The Ripple Labs-backed firm announced plans to go public in October through a merger with special purpose acquisition company (SPAC) Armada Acquisition Corp. II (Armada II).

In a statement on Wednesday, Evernorth announced that it had filed a Form S-4 registration statement with the US Securities and Exchange Commission (SEC), marking the final major regulatory hurdle before launching via a SPAC.

Evernorth eyes ticker XRPN

If the SEC approves the filing, Evernorth said it will still need final approval from Armada II shareholders for the merger, after which it can move forward with listing on the Nasdaq under the ticker XRPN.

Evernorth stated in October that it expects the merger to generate $1 billion in gross proceeds, which will be primarily used to build an XRP treasury, with a smaller portion of the funds being allocated to operating and deal expenses.

XRP treasury faces market turbulence 

Evernorth has already begun building its XRP (XRP) treasury, with CoinGecko data showing the firm’s total treasury value is at $692.24 million, made up of 473.27 million XRP, which it acquired in two tranches between Oct. 20 and Nov. 4.

With an average cost per XRP at $2.54, the value of its holdings has fallen 19.1% over the past three months amid a broader crypto market downturn. ​At the time of writing, XRP is currently priced at $1.47.

Related: Ripple to buy back $750M in shares through April: Report

SEC provides clarity for crypto and XRP 

​Evernorth’s treasury plans come as XRP was among a number of tokens declared as a digital commodity in guidance published by the SEC on Tuesday.

In a notice on Tuesday, the SEC declared that generally only tokenized securities remain “subject to the securities laws.”

Other tokens used in its digital commodities example included Aptos (APT), Avalanche (AVAX), Bitcoin (BTC), Dogecoin (DOGE) and Ethereum (ETH). 

​“We always knew XRP wasn’t a security – and now the @SECGov has made clear what it is: a digital commodity. Grateful to the Crypto Task Force for working to deliver the clarity that markets, investors, and innovators have long deserved,” said Ripple’s chief legal officer, Stuart Alderoty via X on Tuesday.

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Crypto company Ripple said it is set to secure a key financial services license in Australia through the acquisition of an Australian payments firm, adding to an international license grab over the last year.

In a statement on Tuesday, Ripple said it will buy BC Payments Australia, a corporate entity tied to the European Banking Circle Group, allowing it access to the company’s Australian Financial Services License (AFSL), which is set to become a requirement for certain crypto companies to provide financial services in the country.

The acquisition of BC Payments Australia is set to close on April 1, according to a report from The Australian, citing comments from Ripple APAC managing director Fiona Murray.

Murray said there was “enough institutional interest in digital assets to warrant the investment for us.”

“Getting licensed was always part of our plan.”

Exciting milestone for @Ripple in Australia! 🇦🇺

Ripple is obtaining an Australian Financial Services License (AFSL). As we continue to bridge TradFi with the next gen of digital infrastructure, regulatory compliance remains the foundation of everything we build:… pic.twitter.com/JNF1iQSyG7

— Ripple (@Ripple) March 10, 2026

In Ripple’s statement, Murray said “Australia is a key market for Ripple” and that an AFSL would strengthen the company’s ability to scale its payments business throughout the country.

“With the AFSL in place, Ripple Payments can manage the full lifecycle of a transaction, from onboarding and compliance through funding, FX, liquidity management, and final payout, while integrating both traditional banking rails and digital assets.”

Ripple has been working to expand its portfolio of international licenses over the last year.

In addition to recently securing conditional approval for a national trust banking charter in the US, Ripple has also won payment licenses in Singapore, the UAE and the UK over the last 12 months.

The firm has also been working to expand use cases for XRP (XRP) and its Ripple USD (RLUSD) stablecoin through key acquisitions in recent months, most notably non-bank prime broker Hidden Road and corporate treasury platform GTreasury.

The acquisition of Hidden Road — now Ripple Prime — made Ripple the first crypto-native company to own and run a multi-asset prime broker, covering everything from clearing, financing and brokerage across digital assets, derivatives, swaps, foreign exchange, and fixed-income products for institutional clients.

Ripple’s plans for Australia come as lawmakers introduced the Digital Asset Framework bill last year, which passed through the lower house in February and is now before the Senate.

The Australian Securities & Investments Commission (ASIC), the country’s top markets regulator, has also proposed rules for the crypto sector.

ASIC has also been pushing for crypto trading platforms to secure AFSLs, stating in October that it wouldn’t take any action over licensing matters until at least June 30, 2026.

Crypto exchange Coinbase is also looking to secure an AFSL in the coming months.

Murray hopeful Australia will end crypto debanking

Murray told The Australian that she hopes the move to AFSLs will end the widespread crypto debanking issue in Australia, which has seen many banks impose blocks or restrictions on customers attempting to deposit funds to crypto exchanges.

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Australia’s “Big Four” banks — Commonwealth Bank, Australia and New Zealand Banking, National Australia Bank and Westpac — have all applied varying forms of crypto exchange restrictions.

In an interview with Cointelegraph at the XRP Australia conference on Feb. 27, OKX Australia CEO Kate Cooper said the banking barriers continue to affect adoption in the country.

“It’s absolutely still a challenge in the industry,” Cooper said. “I don’t think there’s been any improvements. And we’re working hard with governments to encourage them to set some standards around it.”

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