Ripple, the blockchain firm closely associated with the XRP Ledger (XRP) network, is acquiring treasury software provider GTreasury for $1 billion, pushing deeper into corporate finance. GTreasury’s treasury platform, used by Fortune 500 enterprise for managing cash, foreign exchange and risk, will become part of Ripple’s expanding suite of financial tools, the firm told CoinDesk on Thursday.
The acquisition is set to close in the coming months, subject to regulatory approvals, it added. The deal brings Ripple into direct contact with large treasury departments, many of which still rely on legacy systems to manage billions in liquidity, as the digital asset company works towards making its blockchain infrastructure central to how enterprises manage money.
“For too long, money has been stuck in slow, outdated payments systems and infrastructure, causing unnecessary delays, high costs, and roadblocks to entering new markets — problems that blockchain technologies are ideally suited to solve,” Ripple CEO Brad Garlinghouse said in a statement.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…