Ripple’s $1 Billion Move and National Bank Ambition Have Critics Nervous

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Last week, Ripple announced a $1 billion acquisition of GTreasury, showing the 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, CIO at SWIFT, Tom Zschach, claimed that Ripple lacks client trust, regulatory capital, and settlement access. His comments quickly 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 statements contradict themselves. On one hand, Tom says banks are moving ahead by adding digital asset infrastructure into their treasury systems. On the other, he criticizes Ripple for doing the same thing.

Ripple’s new acquisition, GTreasury, already serves 1,000 clients in more than 160 countries. This, he said, is exactly what banks are aiming for. He further noted that Ripple has applied for a U.S. national bank charter, which would allow it to operate as a fully regulated bank.

He added, “It seems Ripple is doing what he says the banks are doing by embedding digital asset infrastructure into an existing treasury ecosystem. One unified platform.”

Ripple Steps Closer to Mainstream Finance

Ripple has clearly evolved from being just a blockchain company to becoming a regulated financial player. With its XRP-based cross-border payment solutions and the clarity it received after the SEC lawsuit dismissal, interest from large financial institutions continues to grow.

The GTreasury acquisition is Ripple’s third major deal in 2025, following the purchases 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 said that his goal is to connect traditional finance with the world of digital assets. With this latest move, Ripple seems closer than ever to achieving that vision.