Evernorth Plans $1 Billion XRP Treasury Backed by Ripple Executives

• Evernorth’s merger with Armada Acquisition Corp II is set to close in Q1 2026, delivering net proceeds exceeding $1 billion primarily for open-market XRP purchases.

• The firm, led by former Ripple executive Asheesh Birla, will maintain independent governance while receiving strategic advice from Ripple’s top leaders.

• XRP’s price has risen 2% in the last 24 hours to $2.44, amid broader interest from firms like Trident Digital planning up to $500 million in XRP acquisitions.

Discover how Evernorth’s $1B+ XRP treasury push, backed by Ripple, drives adoption and yields. Explore investment opportunities in the growing XRP ecosystem today.

What is Evernorth’s Strategy for Building an XRP Treasury?

Evernorth, a newly formed publicly traded entity focused on XRP treasury management, is launching with ambitions to raise more than $1 billion. This capital will fund substantial purchases of XRP, the native asset of the XRP Ledger, through a business combination with Armada Acquisition Corp II, a special purpose acquisition company. The merger, expected to finalize in the first quarter of 2026, positions Evernorth as a key player in institutionalizing XRP’s role in global payments and DeFi.

Evernorth’s approach extends beyond mere accumulation, integrating traditional finance yield strategies with decentralized finance opportunities to generate shareholder value. By contributing to validator operations and liquidity provision on the XRP Ledger, the firm aims to foster broader ecosystem maturity and adoption.

How Will Evernorth Generate Returns and Support XRP Adoption?

Evernorth plans to deploy its treasury into a mix of TradFi instruments and DeFi protocols tailored to XRP’s strengths in cross-border settlements. According to official statements from the firm, this dual strategy could yield competitive returns while enhancing XRP’s utility. For instance, participation in DeFi lending and staking on the XRP Ledger is projected to capitalize on the asset’s low transaction costs and speed, which average under four seconds per settlement as per XRP Ledger data.

CEO Asheesh Birla, who previously served as a Ripple executive, emphasized this vision in a recent announcement: “Evernorth is built to provide investors more than just exposure to XRP’s price. As we capitalize on existing TradFi yield generation strategies and deploy into DeFi yield opportunities, we also contribute to the growth and maturity of that ecosystem.” This includes strategic advisory input from Ripple’s leadership, such as CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, without direct control over operations.

The firm’s efforts align with Ripple’s longstanding advocacy for XRP in efficient global payments. Garlinghouse noted, “Ripple has long championed XRP for its utility as a global asset for the efficient settlement of payments around the world. Evernorth is deeply aligned with that mission, bringing more use cases, participation, and confidence to the XRP ecosystem.” Backing comes from prominent figures like Ripple co-founder Chris Larsen and investors such as Pantera Capital and Kraken Ventures, underscoring the initiative’s credibility.

Market data from recent trading sessions shows XRP trading at $2.44, reflecting a 2% increase over the past 24 hours. However, shares of Armada Acquisition Corp II dipped 2.5% to $10.21 following the announcement, indicating initial market caution amid volatile crypto conditions. Evernorth’s proposed treasury would eclipse existing public efforts, such as Trident Digital’s June 2025 plan to acquire up to $500 million in XRP and Webus International’s earlier intention for a $300 million reserve.

By focusing on validator operations and market development, Evernorth intends to provide liquidity for XRP-based projects, potentially accelerating institutional adoption. The XRP Ledger, known for processing over 1,500 transactions per second according to its technical specifications, stands to benefit from such structured support. This positions Evernorth not just as a holder but as a catalyst for the ledger’s evolution into a robust financial infrastructure.

Frequently Asked Questions

What Backing Does Evernorth Have from Ripple and Key Investors?

Evernorth is supported by Ripple’s contributions, co-founder Chris Larsen, and investments from Pantera Capital and Kraken Ventures. While maintaining independent governance, it benefits from advisory roles filled by Ripple executives like Brad Garlinghouse and David Schwartz, ensuring alignment with XRP’s payment-focused mission without operational overlap.

How Does Evernorth Plan to Use Its $1 Billion Raise for XRP?

The funds from Evernorth’s SPAC merger will primarily purchase XRP on open markets to build a substantial treasury reserve. This capital will also fund DeFi deployments, validator participation, and liquidity provision on the XRP Ledger, aiming to generate yields and drive ecosystem growth in a balanced, regulated manner.

Is Evernorth’s XRP Treasury the Largest Publicly Traded One?

Upon completion, Evernorth’s over $1 billion XRP treasury would indeed be the largest among publicly traded entities. It surpasses announcements from Trident Digital ($500 million target) and Webus ($300 million plan), highlighting its scale in promoting institutional XRP holdings.

What Is the Timeline for Evernorth’s Merger and Launch?

The business combination with Armada Acquisition Corp II is slated to close in Q1 2026, enabling immediate treasury buildup. This timeline allows for regulatory approvals and strategic positioning, with operations commencing shortly thereafter to capitalize on current market dynamics.

Key Takeaways

• Evernorth’s $1B+ Raise: The SPAC merger provides unprecedented capital for XRP accumulation, setting a new benchmark for public crypto treasuries.
• Yield and Adoption Focus: By blending TradFi and DeFi strategies, Evernorth aims to deliver returns while enhancing XRP Ledger utility through liquidity and validation support.
• Ripple Ecosystem Boost: Strategic advice from Ripple leaders ensures mission alignment; investors should monitor Q1 2026 closure for potential market impacts on XRP at $2.44.

Conclusion

Evernorth’s ambitious launch as a Ripple-backed XRP treasury firm marks a pivotal step toward institutionalizing XRP in global finance. With over $1 billion earmarked for treasury growth, yield generation via DeFi opportunities, and ecosystem contributions, it addresses key barriers to adoption while offering investors diversified exposure. As the merger progresses toward a Q1 2026 close, stakeholders in the XRP ecosystem can anticipate heightened liquidity and utility. For those eyeing crypto treasuries, this development signals a maturing landscape—consider exploring regulated vehicles like Evernorth to participate in XRP’s forward trajectory.

Published by COINOTAG on October 21, 2025. Last updated: October 21, 2025.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve risk; conduct your own research.