Evernorth, a pioneering institutional vehicle backed by Ripple, is accelerating XRP adoption by building the largest public XRP treasury on Nasdaq under the ticker XRPN. This initiative, raising over $1 billion, holds 261,819,198 XRP valued at approximately $625 million and supports the XRP Ledger ecosystem, including the Ripple USD stablecoin.
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Ripple-backed venture announces $1 billion raise through business combination to create XRPN on Nasdaq.
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Evernorth advances XRP Ledger with DeFi integration and Ripple USD stablecoin as an on-ramp.
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Current holdings: 261,819,198 XRP worth $625,747,883 at $2.39 per token, sourced from Ripple, Chris Larsen, Uphold, and Jana Label.
Discover how Evernorth’s $1B XRP treasury push boosts adoption and DeFi growth. Explore the Ripple-backed initiative creating Nasdaq’s largest XRP holder—stay ahead in crypto innovation today!
What is Evernorth and How Does It Drive XRP Adoption?
Evernorth represents the first institutional vehicle designed specifically to accelerate XRP adoption, backed by Ripple and focused on expanding the XRP Ledger ecosystem. Through a recent business combination agreement, Evernorth aims to raise over $1 billion in gross proceeds, establishing the largest public XRP treasury company listed on Nasdaq under the ticker “XRPN.” This move not only bolsters XRP’s institutional presence but also integrates tools like the Ripple USD stablecoin (RLUSD) for seamless DeFi on-ramps, fostering broader ecosystem growth.
How Much XRP Does Evernorth Currently Hold?
Evernorth’s XRP treasury has reached a significant milestone, now holding 261,819,198 XRP tokens. According to data shared by Vet, a respected XRP Ledger decentralized UNL validator, this stash is valued at approximately $625,747,883 based on the current price of $2.39 per XRP. The accumulation stems from key contributions in the funding round: Ripple provided two installments totaling 211,319,000 XRP, while Ripple Chairman and Co-founder Chris Larsen contributed 50 million XRP. Uphold added 199,000 XRP, and Jana Label invested 300,000 XRP. These figures position Evernorth more than halfway toward its $1 billion target, with the transaction slated to close in the first quarter of 2026. Vet emphasized this progress in a public statement, noting the strategic inflows and their impact on institutional confidence in XRP. As an XRPL validator with expertise in ledger operations, Vet’s insights underscore the transparency and momentum building around Evernorth, drawing from on-chain data to highlight real-time treasury growth. This development aligns with broader trends in cryptocurrency where institutional vehicles like Evernorth bridge traditional finance and blockchain, potentially increasing XRP’s liquidity and utility in global payments.
Frequently Asked Questions
What is the Role of Ripple USD Stablecoin in Evernorth’s Strategy?
The Ripple USD stablecoin (RLUSD) serves as a key component in Evernorth’s ecosystem advancement, acting as an efficient on-ramp for DeFi applications within the XRP Ledger. Pegged to the U.S. dollar, RLUSD enhances stability and interoperability, allowing seamless conversions between fiat and XRP-based assets. This integration supports Evernorth’s goal of creating a robust public treasury, as outlined in the business combination announcement, by facilitating faster transaction settlements and reducing volatility risks for institutional users.
When Will Evernorth Complete Its $1 Billion Raise and List on Nasdaq?
Evernorth’s business combination to raise over $1 billion is on track to close in the first quarter of 2026, paving the way for its public listing on Nasdaq under the ticker XRPN. This timeline allows for regulatory approvals and final treasury accumulations, building on current holdings of over 261 million XRP. Once listed, it will become the largest publicly traded XRP treasury, offering investors direct exposure to XRP’s growth in payments and DeFi.
Key Takeaways
- Evernorth’s Milestone Holdings: With 261,819,198 XRP valued at $625 million, the vehicle surpasses halfway to its $1 billion goal through contributions from Ripple and key stakeholders.
- Ecosystem Expansion: Integration of Ripple USD stablecoin positions Evernorth to drive DeFi adoption on the XRP Ledger, enhancing on-ramps for institutional and retail users alike.
- Market Impact Insight: Listing as XRPN on Nasdaq could boost XRP’s institutional appeal—monitor progress for potential liquidity surges in the coming quarters.
Conclusion
Evernorth’s emergence as a Ripple-backed powerhouse in XRP adoption marks a pivotal step toward institutionalizing the XRP Ledger, with its $1 billion treasury build-out and Nasdaq listing under XRPN set to redefine crypto treasuries. By amassing over 261 million XRP and incorporating the Ripple USD stablecoin for DeFi, Evernorth demonstrates the maturing synergy between traditional finance and blockchain innovation. As the transaction progresses toward a Q1 2026 close, stakeholders should watch for enhanced liquidity and ecosystem advancements that could solidify XRP’s role in global payments—position yourself to capitalize on this evolving landscape.
