What to Know:
- Evernorth aims to establish a substantial XRP treasury and drive institutional adoption.
- The initiative has strong backing from key players in the crypto and finance sectors.
- The project seeks to leverage XRP’s regulatory clarity in the U.S. to foster broader market participation.
Evernorth CEO Asheesh Birla has announced an ambitious plan to create a publicly traded XRP treasury, signaling a major development for the XRP ecosystem. The initiative aims to provide regulated and liquid exposure to XRP, while also actively growing its XRP holdings through strategic investments. This move underscores growing confidence in XRP’s potential within the evolving financial landscape.
Evernorth plans to accumulate a massive $1.1 billion XRP treasury, positioning itself as a major player akin to MicroStrategy but focused specifically on XRP. The firm’s approach involves reinvesting proceeds from the treasury to acquire even more XRP, demonstrating a long-term bullish outlook. The company’s vision extends beyond passive holding, aiming to actively enhance XRP’s utility and market presence.
The initiative has garnered significant support from key industry figures and companies, including Ripple Labs, SBI Holdings, and individual contributions from figures like Chris Larsen. Ripple’s CTO David Schwartz, CLO Stuart Alderoty, and CEO Brad Garlinghouse are advisors to Evernorth, highlighting the close ties and strategic alignment. This level of backing suggests a strong belief in XRP’s future role in institutional finance and regulatory compliance.
With XRP achieving “clear regulatory standing” in the United States, Evernorth aims to create a transparent bridge connecting XRP to traditional public markets. The company’s focus on innovation, regulation, and risk management is designed to foster trust and encourage institutional participation. As the broader crypto market anticipates potential Bitcoin ETFs and clearer regulatory frameworks, XRP’s established position could provide a competitive advantage.
As Evernorth prepares to go public on Nasdaq (XRPN) via a merger with Armada Acquisition Corp II in Q1 2026, the crypto community is watching closely. This initiative is viewed as a fundamental step toward solidifying XRP’s role in global finance. The move reflects a growing trend of institutional interest and investment in cryptocurrencies beyond Bitcoin and even Shiba Inu (SHIB).
Source: Original article
