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Ripple strikes: 1 billion for GTreasury – revolution in finance!
Ripple acquires GTreasury for $1 billion to expand payments offerings in corporate finance and promote real-time transactions.
Ripple strikes: 1 billion for GTreasury – revolution in finance!
Ripple today announced its acquisition of risk management software company GTreasury for $1 billion. Loud FXStreet the takeover will be completed in the coming months. This strategic venture aims to expand Ripple's payment offering in the area of corporate financing and cash management.
GTreasury brings over four decades of treasury and risk management experience and is designed to help Ripple integrate blockchain-based settlements into traditional treasury operations. CEO Brad Garlinghouse emphasizes that blockchain technologies can solve the existing problems of slow and outdated payment systems. Integrating these technologies could enable companies to transfer funds instantly while reducing transaction costs.
Advanced functionalities for companies
With the acquisition, Ripple plans to empower CFOs by allowing them to globally manage a broader range of assets, including stablecoins and tokenized deposits. The move is also expected to make it easier to access the global repo market, which could help customers earn more from short-term assets. It is also expected to promote real-time payments across borders.
Renaat Ver Eecke, CEO of GTreasury, describes the acquisition as a turning point in treasury management. This acquisition follows Ripple's other moves into the traditional financial ecosystem, including its acquisition of prime brokerage firm Hidden Road for $1.25 billion in April and stablecoin payments platform Rail in August.
Partnerships to Drive Blockchain Adoption
In addition to the acquisition of GTreasury, Ripple has announced a partnership with Bahrain Fintech Bay (BFB) to drive blockchain innovation and digital asset adoption in the region. In August, another collaboration followed with SBI Holdings from Japan to distribute the Ripple USD (RLUSD) stablecoin there. These strategic partnerships underscore Ripple's commitment to expanding and strengthening its position in the global financial system.