Ripple Buys GTreasury for $1 Billion
Ripple announced it will buy GTreasury, a treasury and risk management software company, for $1 billion. The deal was revealed in a statement on Thursday. It is expected to close in the coming months.
This acquisition will help Ripple expand into corporate finance and cash management. GTreasury has over 40 years of experience in this field.
Ripple’s Plans to Improve Payments
Ripple CEO Brad Garlinghouse said slow and outdated payment systems cause delays and high costs. He believes blockchain can fix these problems.
By adding blockchain settlement to treasury operations, Ripple wants to help companies move money instantly. This will lower transaction costs and improve cash flow.
Garlinghouse said payments are the main use for crypto and blockchain. Ripple and GTreasury will work to help CFOs manage assets like stablecoins and tokenized deposits worldwide.
Expanding Ripple’s Financial Services
- Ripple will help clients access the global repo market through its prime broker Hidden Road.
- This will allow clients to earn more on short-term assets and make fast cross-border payments.
- GTreasury CEO Renaat Ver Eecke called the deal a “watershed moment” for treasury management.
- Ripple’s recent moves include buying Hidden Road for $1.25 billion in April and Rail, a stablecoin payments platform, in August.
- Ripple also partnered with Bahrain Fintech Bay to promote blockchain in the region.
- In August, Ripple teamed up with Japan’s SBI Holdings to distribute the Ripple USD (RLUSD) stablecoin.
