Ripple Acquires Treasury Management Systems Supplier GTreasury for $1 Billion

Digital asset infrastructure provider Ripple has acquired treasury management systems supplier GTreasury for $1 billion, saying the deal provides Ripple with access to the corporate treasury market and many large and successful corporate customers.

The combination of GTreasury’s treasury expertise and Ripple’s digital asset infrastructure will strengthen their ability to help customers move, manage and optimize liquidity in real time, the companies said in a Thursday (Oct. 16) press release.

The deal is expected to close within months, subject to regulatory approvals, according to the release.

Together, the companies will support the chief financial officers at Fortune 500 companies in their adoption and management of stablecoins, tokenized assets and other assets, the release said.

They will initially focus on enabling customers to unlock hidden capital by tapping into the global repo market via prime broker Hidden Road to earn more on short-term assets, and moving money instantly and at competitive rates with Ripple’s cross-border payments capabilities, per the release.

Ripple CEO Brad Garlinghouse said in the release that blockchain technologies can solve the problems caused by outdated payments systems and infrastructure, including unnecessary delays, high costs and roadblocks to entering new markets.

“Ripple and GTreasury’s capabilities together bring the best of both worlds, so treasury and finance teams can finally put their trapped capital to work, process payments instantly and open up new growth opportunities,” Garlinghouse said.

GTreasury CEO Renaat Ver Eecke said in the release that the combination of the companies’ solutions will enable treasurers to “manage liquidity, payments and risk in the new digital economy.”

“This acquisition is a watershed moment for treasury management,” Ver Eecke said. “We have focused on providing the most compliant and feature-rich solutions to corporations around the globe. Now, by joining Ripple, we are accelerating our vision from managing capital to activating it.”

Investor Hg said in a Wednesday (Oct. 15) press release that it agreed to the sale of GTreasury and that it will fully exit the business in which it first invested in 2023.

The company said GTreasury scaled significantly with Hg’s support and will continue to thrive under new ownership.

“The business has firmly cemented its position as the most adaptable treasury platform on the market, evidenced by its accelerating growth, increasingly transatlantic footprint, and exciting product innovations, including the recent launch of GSmart AI,” Hg Partner Louis Kinsella said in the release.

Earlier this year, Ripple acquired prime brokerage Hidden Road for $1.25 billion and stablecoin payment platform Rail for $200 million.