Ramp, the fintech giant best known for its corporate cards and expense management tools, is stepping into new territory. The company just announced a fresh offering called Ramp Treasury, a move that positions it closer to the world of digital banking.

So, what’s the big deal? Ramp Treasury lets businesses earn interest on their cash deposits—something many corporate accounts currently miss out on. CEO Eric Glyman shared in an exclusive interview that most business checking accounts linked to Ramp were earning 0% interest. The new product aims to change that, offering businesses a way to store cash and earn up to 2.5% interest or potentially higher yields through money market funds.

The best part? Customers can access their funds quickly to pay bills or manage expenses, making it a flexible solution for cash management.

Here’s the catch: Ramp isn’t becoming a bank. Instead, it’s partnering with First Internet Bank of Indiana for cash deposit accounts and Apex for investment services. This approach mirrors other fintech players in the space, like Brex and Mercury, which also collaborate with banks to deliver financial products.

This isn’t Ramp’s first rodeo. The company has expanded steadily since its launch in 2018, branching into travel, bill pay, and more. Now, with its treasury product, Ramp is positioning itself as a one-stop shop for businesses’ financial needs.

Glyman also revealed some impressive stats: Ramp now boasts over 30,000 customers, up from 15,000 a year ago, and has processed more than $50 billion in card and bill payments. The company generates revenue through interchange fees, SaaS subscriptions, and now, a share of the spreads from its treasury product.

Looking ahead, Ramp is eyeing an IPO in the long term, though Glyman emphasizes that building a strong business comes first, regardless of its public or private status.

With this move, Ramp is proving it’s more than just a corporate card provider—it’s becoming a key player in the broader fintech landscape.