Digital asset giant Ripple is making a move into corporate treasury through the $1 billion acquisition of GTreasury.
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Chicago-based GTreasury provides treasury management systems to more than 1000 customers across 160 countries, opening up access to the multi-trillion dollar corporate treasury market and large corporate customers to Ripple.
Ripple argues that the financial worldโs shift towards digital assets means that Fortune 500 CFOs and treasurers need to be equipped to manage stablecoins, tokenised deposits, and other assets at scale.
The acquisition of GTreasury aims to help it push into corporate finance, combining its digital asset infrastructure with decades of treasury expertise to help customers move, manage, and optimise liquidity in real-time. The move will focus on helping customers unlock idle capital and move money instantly.
Brad Garlinghouse, CEO, Ripple, says: โFor too long, money has been stuck in slow, outdated payments systems and infrastructure, causing unnecessary delays, high costs, and roadblocks to entering new markets – problems that blockchain technologies are ideally suited to solve.
โRippleโs and GTreasuryโs capabilities together bring the best of both worlds, so treasury and finance teams can finally put their trapped capital to work, process payments instantly, and open up new growth opportunities.โ
The deal, which is subject to regulatory approvals, is Ripple’s third major acquisition this year, following the purchases of prime broker Hidden Road and stablecoin platform Rail.
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