The deal, pending regulatory approvals, would give Ripple access to large enterprise clients as it is building out financial services around its digital asset business.
Ripple Set to Enter Corporate Treasury Business With $1B Acquisition of GTreasury
The deal, pending regulatory approvals, would give Ripple access to large enterprise clients as it is building out financial services around its digital asset business.
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The ratio of Binance USDT reserves to user balances also dropped significantly.
Sumitomo is the latest example in a roster of firms eyeing the booming stablecoin market, which has grown 50% to around $230 billion in a year.
The appetite for traditional and emerging hedges remains limited among wealthy families, according to JPMorgan Private Bank’s 2026 Global Family Office Report.
The exchange's action follows that of Huobi Hong Kong and several other applicants earlier this month.