Ripple announced the acquisition of financial management system company GTreasury for $1 billion

ChainCatcher news, Ripple announced the acquisition of financial management system company GTreasury for $1 billion. This deal marks a significant expansion for Ripple, opening up the multi-trillion dollar corporate finance market and reaching numerous enterprise clients.

GTreasury has over forty years of experience providing financial operations support to globally recognized brands. Ripple CEO Brad Garlinghouse stated, "For too long, funds have been trapped in slow, outdated payment systems and infrastructures, leading to unnecessary delays, high costs, and barriers to entering new markets—issues that are ideal candidates for blockchain technology solutions. The combination of Ripple and GTreasury's capabilities will achieve the best of both worlds, enabling finance and treasury teams to finally put trapped funds to work, process payments in real-time, and unlock new growth opportunities."