Ripple Pays $1 Billion for GTreasury to Enter Corporate Treasury

Crypto firm Ripple said it has agreed to buy treasury management software provider GTreasury for $1 billion.

The acquisition strengthens Ripple’s ability to connect with Fortune 500 chief financial officers and treasurers to manage and provide additional liquidity for tokenized deposits, stablecoins and other digital assets, the blockchain tech company said in a Thursday press release. The deal is expected to close in the coming months, subject to regulatory approvals.

Ripple is the latest digital-asset firm to adopt or enhance their treasury strategies. Earlier this month, Jack Dorsey’s Block Inc., with about 8,700 Bitcoin on is balance ...