Ripple to acquire GTreasury for $1B and raise $1B for XRP treasury

Ripple announced this week that it will acquire treasury management software provider GTreasury for about $1 billion and is moving ahead with plans to raise at least $1 billion to build a new corporate digital asset treasury to accumulate XRP, the token that underpins its blockchain network. The twin moves are part of the companys push to expand from payments into corporate treasury management and to deepen institutional use of the XRP Ledger as infrastructure for tokenized assets and real time crossborder payments.

The GTreasury deal connects Ripple directly with corporate treasurers and chief financial officers who use GTreasurys platform for cash, foreign exchange and liquidity management. Ripple Chief Executive Brad Garlinghouse said the combined capabilities will let treasury teams put trapped capital to work, process payments instantly and open new growth opportunities. GTreasury Chief Executive Renaat Ver Eecke said the transaction will accelerate the firms mission to activate corporate capital worldwide while preserving compliance and core treasury functionality.

Ripple plans to integrate GTreasurys software with its blockchain and liquidity tools to enable tokenized...