Ripple CEO Brad Garlinghouse said he expects 30% of Ripple’s $13 trillion annual payment volume to move on-chain over the next five years.
He made these remarks during a conversation at the Consensus 2026 conference in Miami, where Bullish CEO Tom Farley attended.
Key points
- Brad Garlinghouse stated that 30% of Ripple Treasury's annual trading volume could be moved on-chain within five years.
- GTreasury (now Ripple Treasury) processed $13 trillion in transactions in 2025, with not a single payment made on-chain.
- In October 2025, Ripple acquired GTreasury for $1 billion to expand its share in the global corporate finance market.
- The platform serves over 1,000 customers across 160 countries, including many large enterprises, such as American Airlines.
- Ripple is driving broader blockchain adoption by acquiring non-cryptocurrency companies.
Ripple is gradually bringing TradFi on-chain.
In a recent interview, Farley asked Garlinhaus to explain Ripple’s acquisition strategy, noting that the company has consistently pursued non-organic growth through mergers and acquisitions. The optimistic CEO requested an overview of how this strategy has been implemented so far.
Garlinghouse explained that, like Bullish, Ripple has taken a different path compared to many other cryptocurrency companies.
He said that many companies in the field focus on acquiring other cryptocurrency firms, which limits them to operating within the same circle. However, Ripple chose to look beyond this circle, acquiring companies that were not originally part of the digital assets industry.
The potential of Ripple Treasury
Garlinghouse cited Ripple Treasury (formerly GTreasury) as an example, saying the platform processes payments totaling $13 trillion last year.
But he pointed out that as of 2025, none of these payments use stablecoins or any digital assets. According to him, this highlights the potential scale for transitioning these transactions over time, as they will gradually move onto blockchain systems.
Meanwhile, Garlinhaus clarified that Ripple does not wish to pressure clients into making hasty changes; instead, the company plans to guide them gradually.
He mentioned that large companies such as American Airlines, along with a range of organizations from Fortune 500 enterprises to mid-sized businesses, are key users. These companies already use the platform to manage liquidity and handle various banking activities, all through a unified dashboard across these countries.
Approximately 30% of annual payments may shift to on-chain payments.
To explain these benefits, Garlinhaus highlighted how companies like American Airlines pay for fuel in Peruvian soles. This process can currently take up to four days and is costly because it relies on a single correspondent bank.
He said Ripple Treasury can offer better options directly within its interface. Specifically, it can show users in real time how to complete the same payment at a lower cost. This allows finance managers to compare different options and choose the one that best suits them, without having to overhaul their entire system.
Garlinhaus emphasized that this change will be gradual. He said the adoption will move in phases, starting slowly and growing over time. Looking ahead, the Ripple CEO said he believes that within five years, 30% of the $13 trillion in payment flows will be conducted on-chain.
Ripple's financial plan
For clarity, Ripple announced its acquisition of GTreasury for $1 billion, with the transaction expected to close in October 2025. The deal results in a full exit for investor Hg, which invested in 2023.
Headquartered in Chicago, GTreasury has over 40 years of experience and serves more than 1,000 clients across 160 countries, including major companies such as American Airlines, Goodyear Tire, and Volvo. The transaction was completed in early December 2025.
Ripple launched Ripple Treasury in late January 2026, marking its first major initiative following the acquisition. The platform integrates GTreasury’s treasury management system with Ripple’s digital asset technology, enabling users to manage traditional cash, stablecoins (such as RLUSD), and tokenized assets all on a single platform.
Earlier this year, Garlinghouse confirmed that GTreasury processed $13 trillion in payments in 2025, none of which were conducted on-chain. As part of its plan to add digital asset capabilities to this platform, the company intends to gradually shift the majority of this volume onto blockchain-based transactions over the coming years.