Ripple announced the acquisition of GTreasury, a global leader in treasury management systems, for $1 billion, in a new step that strengthens its position as a leader in enterprise digital asset infrastructure.
According to the company's statement, this agreement will open the doors to the trillion-dollar corporate treasury market for Ripple and give it direct access to the world's largest and most established companies.
Ripple CEO Brad Garlinghouse said, “For too long, money has been trapped in slow and inefficient payment infrastructures. This increases costs and makes it difficult for companies to enter new markets. Blockchain technology is an ideal tool to solve these problems. With the combination of Ripple and GTreasury, finance teams can now put their locked capital to work, process payments instantly, and capitalize on new growth opportunities.”
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