Ripple-owned GTreasury acquires Sydney-based fintech Solvexia

The news: Ripple-owned GTreasury has acquired Sydney-based fintech Solvexia, a no-code financial automation and data management firm.

The context: GTreasury, which was bought by Ripple for USD1 billion ($1.49 billion) in October last year, said it will leverage the purchase to deliver end-to-end reconciliation automation across payment gateways, banking systems, ERPs, and internal records, spanning both fiat and digital asset transactions, to identify fraudulent fund flows, detect revenue leakage, and verify intercompany settlements.

Financial details of the transaction were not disclosed.

What they said: "Today's acquisition of Solvexia removes the boundaries between treasury management, reconciliation, and compliance reporting," said Renaat Ver Eecke, CEO of GTreasury.

"Organizations shouldn't rely on manual processes that introduce fraud risk, disclosure weaknesses, and audit exposure when automation can deliver near-perfect accuracy and complete transparency. The integration of GTreasury's capabilities with Solvexia's automation platform delivers unprecedented visibility and control across the entire finance function, protecting CFO reputation while ensuring governance and regulatory compliance."