Last week, Ripple announced it would acquire GTreasury for $1 billion, demonstrating growing demand for its technology among major financial institutions. The goal behind this deal is to help Ripple expand deeper into traditional finance by combining blockchain technology with existing banking systems.
However, SWIFT CIO Tom Zachach argued that Ripple lacks customer trust, regulatory capital, and access to payments. His comments immediately drew a response from crypto lawyer Bill Morgan, who called the criticism unfair and inconsistent.
Ripple’s progress in finance
Morgan explained that Tom's statement itself was contradictory. Meanwhile, Tom says banks are moving forward by adding digital asset infrastructure to their treasury systems. On the other hand, Ripple has also been criticized for doing the same thing.
Ripple's new acquisition, GTreasury, already serves 1,000 customers in over 160 countries. He says this is what the bank is aiming for. He further pointed out that Ripple has applied for a US National Bank Charter, which would allow it to operate as a fully regulated bank.
He added: “Ripple appears to be doing what banks are doing by embedding their digital asset infrastructure into their existing treasury ecosystem: one unified platform.”
Ripple moves closer to mainstream finance
Ripple has clearly evolved from just a blockchain company to a regulated financial player. Interest from large financial institutions continues to grow due to XRP-based cross-border payment solutions and transparency following the SEC lawsuit dismissal.
The acquisition of GTreasury is Ripple's third major deal of 2025, following the acquisitions of Hidden Road and Rail. These partnerships with banks and payment providers highlight Ripple's growing role in building real-world financial solutions through blockchain technology.
Ripple CEO Brad Garlinghouse has repeatedly stated that his goal is to connect the worlds of traditional finance and digital assets. With this latest move, Ripple appears to be closer than ever to achieving that vision.
