Ripple Acquires GTreasury for $1 Billion to Enter Crypto Treasury Sector

The crypto firm will also raise $1 billion to create an XRP treasury.

Ripple announced the acquisition of treasury management systems provider GTreasury for $1 billion.

As part of the deal, the firm will integrate blockchain infrastructure with corporate finance solutions. The combined platform will enable clients to:

• invest short-term assets in the REPO market through prime broker Hidden Road for additional income;
• conduct real-time international payments using digital assets.

According to Ripple representatives, acquiring GTreasury will grant the company access to a “multi-trillion-dollar market and a client base of the largest international corporations.”

“Together, we will create solutions that allow companies worldwide to unlock previously trapped capital, process payments instantly, and explore new growth avenues,” emphasized fintech firm’s CEO Brad Garlinghouse.

GTreasury is recognized as an industry standard for risk management, currency operations, and regulatory compliance. The company serves over 1,000 clients globally, including American Airlines and Hitachi.

XRP Reserve

Ripple Labs will raise $1 billion to establish a digital asset treasury for the XRP token. Bloomberg reports this, citing informed sources.

The funding will be organized through a special purpose acquisition company. Ripple will also contribute some of its own reserves. The details of the deal are still under discussion and may change. At the time of writing, fintech firm representatives have not commented on the news.

If plans are realized, the structure will become the largest treasury focused on Ripple’s coin. In June, Trident Digital announced raising $500 million to form the “world’s first corporate treasury in XRP.”

Over the past day, the cryptocurrency’s price has fallen by 5.7%. At the time of writing, the asset is trading at $2.29 with a market capitalization of $137 billion.

Earlier, Teucrium CEO Sal Gilbertie suggested competition between Ripple and the global payment system SWIFT.