Ripple acquires corporate treasury management firm 'GTreasury' for $1 billion

JH Kim

Summary

Ripple said it acquired GTreasury, a corporate treasury and risk management SaaS company, for about $1 billion.
Ripple said it aims to enter the global corporate treasury management market and strengthen touchpoints with large corporate customers through this acquisition.
The company said this acquisition is expected to strengthen Ripple's position as a provider of corporate financial solutions beyond blockchain-based payment infrastructure.

On the 16th (local time), according to business breaking news channel Walter Bloomberg, Ripple announced on its official website that it has acquired corporate treasury and risk management support SaaS (software as a service) company GTreasury for about $1 billion (about 1.4 trillion won).

Ripple said, "This acquisition is an important turning point that significantly expands Ripple's business domain and will enable entry into the global corporate treasury management market worth trillions of dollars," adding, "Through this, we have strengthened touchpoints with large corporate customers and established a foundation to integrate Ripple's payment and liquidity solutions."

This acquisition is expected to strengthen Ripple's position as a provider of corporate financial solutions beyond blockchain-based payment infrastructure.