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Asheesh Birla, CEO of Evernorth, has unveiled a new vision for the XRP ecosystem.
In his video message, Birla described Evernorth as a publicly traded XRP treasury that provides simple, regulated, and liquid exposure to XRP. However, the company aims to go beyond passive holdings.
“We aim to grow our XRP holdings,” Birla explained, noting that proceeds generated from the treasury would be used to acquire additional XRP. Notably, this compounding approach backs Evernorth’s long-term confidence in XRP’s role in the financial landscape.
These backers, Birla highlighted, share Evernorth’s conviction in XRP’s potential to drive institutional adoption and regulatory trust.
“We’ve built an incredible team of leaders from crypto, capital markets, and finance,” Birla added, stressing the company’s focus on innovation, regulation, and risk management.
Notably, Ripple CTO David Schwartz, CLO Stuart Alderoty, and CEO Brad Garlinghouse are advisors to Evernorth.
“This is Just the Beginning” for XRP
Furthermore, Birla pointed out that XRP now has “clear regulatory standing in the United States.” He stressed that this milestone paves the way for institutional participation. With Evernorth, he aims to create a trusted, transparent bridge connecting XRP to public markets.
“This is just the beginning,” Birla concluded. “I couldn’t be more excited to build this together with the community at every turn.”
More Context on Evernorth
Notably, Evernorth plans to build the world’s most extensive XRP treasury with $1.1 billion in committed capital. The firm will go public on Nasdaq (XRPN) via a merger with Armada Acquisition Corp II in Q1 2026.
Funding & Investors:
- Ripple Labs: $300M initial + $200M post-closing
- SBI Holdings: $200M for open-market XRP purchases
- Other investors: $645M
- Chris Larsen: 50M–120M XRP personal contribution
Funds will buy roughly 560 million XRP within 10 days of funding. Ultimately, Evernorth seeks to be the “MicroStrategy for XRP,” with purchases starting in 2026.
The XRP community views the initiative as a bullish, infrastructure-level step solidifying XRP’s role in global finance.
