Ripple launches treasury platform via recently acquired subsidiary GTreasury

Source Cryptopolitan

Ripple established its own treasury platform on Wednesday, powered by its recently acquired subsidiary, GTreasury. The firm said the treasury will enable CFOs, treasurers, and accounting teams to have complete control over both traditional and digital treasury operations.

Ripple said the new platform will provide enterprise clients with liquidity management, cash forecasting, reconciliation, risk management, and payment solutions. The firm’s $1 billion acquisition of GTreasury last October gave Ripple direct access to GTreasury’s clientele. The cloud-based software has access to several Fortune 500 companies and more than 1,000 corporate customers.

Ripple seeks to help finance teams transition to crypto-native solutions

The crypto firm revealed that the new platform seeks to help finance teams transition from traditional treasury platforms that can’t handle digital assets or adopt crypto-native solutions. The treasury platform seeks to give corporations and enterprises access to crypto infrastructure built for the speed and complexity of current treasury operations.

Ripple also revealed the Treasury Solution, which integrates directly with any digital asset platform via APIs. The firm said the feature treats direct APIs as digital banks, much as GTreasury treats traditional banks. 

Ripple’s Senior Executive Officer, Reece Merrick, said the firm’s treasury solution will allow balances, transactions, and market price positions to flow into existing treasury workflows. He believes that CFOs will gain strategic decision-making power across all traditional and digital assets. Merrick also stated that treasurers will achieve 24/7 global liquidity optimization, and accounting teams will get automated reconciliation with tamper-proof audit trails.

The firm’s Treasury Solution includes Ripple Prime, which gives users access to collateralized money markets with its own stablecoin, RLUSD. The Treasury Solution will also have the Ripple MMF Portal, which enables one-click investments on XRPL with instant redemptions. All features will also be accessible directly in GTreasury with policy-based controls.

The Treasury Solution will enable cross-border transfers in RLUSD stablecoins. The new feature will also allow users to convert funds to local currency. 

Users will get access to competitive FX rates via the firm’s network liquidity providers. The firm believes the initiative will eliminate exchange rate volatility during settlement windows and reduce FX costs through transparent pricing.

Ripple revealed that its goal is to enable 3-5 second settlements using digital assets, regardless of banking hours or holidays. The firm also seeks to eliminate overseas pre-funding requirements by allowing real-time payment tracking through blockchain transparency.  

Ripple partners with Riyad Bank to advance blockchain payments

Cryptopolitan reported on Monday that Ripple has partnered with Jeel, a subsidiary of Riyad Bank, to advance blockchain payments and tokenization. The initiative is also aimed at strengthening the firm’s financial services across Saudi Arabia by developing a secure and transparent digital infrastructure.

Merrick revealed that the collaboration seeks to assess how blockchain technology can improve the speed and cost efficiency of cross-border payments. The firm also acknowledged that the initiative helps the Gulf region’s growing institutional interest in blockchain payment systems.

“By combining regulated experimentation with global blockchain expertise, we are building the foundations to evaluate scalable use cases that enhance cross-border payments and digital asset capabilities in line with the Kingdom’s long-term digital ambitions.”

-George Harrak, CEO of Jeel.

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