#Ripple Acquires GTreasury for $1B in Major Expansion
Ripple announced Thursday it has acquired GTreasury, a leading treasury management systems provider, for $1 billion as the #blockchain firm expands deeper into corporate finance and enterprise solutions.
The acquisition gives Ripple access to Fortune 500 companies that rely on GTreasury's platform for managing cash, foreign exchange, and risk operations. The deal is expected to close in the coming months, subject to regulatory approvals.
Chicago-based GTreasury brings over four decades of experience supporting #treasury operations for major global brands. The company's platform is recognized for risk management and FX solutions, alongside compliance and audit frameworks.
Brad Garlinghouse, Ripple CEO, stated that money has been stuck in slow, outdated payment systems, causing unnecessary delays and high costs. The combined capabilities are aiming to help treasury and finance teams put trapped capital to work and process payments instantly.
Ripple and GTreasury will focus on enabling customers to access the multi-trillion-dollar global repo market via prime broker Hidden Road. Clients will earn more on short-term assets while enabling real-time cross-border payments at competitive rates.
