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

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On October 16, Ripple announced the acquisition of the financial management system company GTreasury for $1 billion. This deal marks a significant expansion for Ripple, opening up the enterprise finance market worth trillions of dollars and reaching numerous corporate clients. GTreasury has over forty years of experience providing financial operations support for globally recognized brands. Ripple CEO Brad Garlinghouse stated: “For far too long, funds have been trapped in slow, outdated payment systems and infrastructures, leading to unnecessary delays, high costs, and barriers to entering new markets—issues that are ideally solved by Blockchain technology. The combination of Ripple's and GTreasury's capabilities will achieve a win-win situation, allowing financial teams to finally put trapped funds to work, process payments in real-time, and create new rise opportunities.”

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