Evernorth’s Grand Plan to Dominate XRP Holdings
Newly established Evernorth Holdings Inc., set to trade on Nasdaq under the ticker “XRPN,” has unveiled an ambitious strategy to accumulate roughly 261,819,198 XRP tokens. The company, emerging from a SPAC merger with Armada Acquisition Corp. II, expects to raise more than $1 billion in gross proceeds. Its goal is to create one of the largest publicly listed XRP treasuries ever seen.
Backed by Ripple Labs, SBI Holdings, and several major crypto and fintech investors, Evernorth plans to use most of the merger funds for open-market purchases of XRP. The firm aims to provide a regulated, publicly traded platform where investors can gain direct exposure to XRP while benefiting from the company’s active management of the asset.
More Than a Simple XRP Fund
Unlike traditional exchange-traded funds that passively hold digital assets, Evernorth’s approach focuses on generating yield and long-term growth. The company intends to leverage its XRP reserves in several ways:
- Institutional lending
- Liquidity provisioning
- DeFi-based yield strategies
Evernorth CEO Asheesh Birla, previously an executive at Ripple, explained that the company’s mission is to “accelerate XRP adoption” while positioning Evernorth as a bridge between traditional finance and the decentralized economy.
XRP’s Moment in the Institutional Spotlight
The timing of Evernorth’s move reflects growing interest from corporations in holding digital assets on their balance sheets. What makes Evernorth stand out is its exclusive focus on XRP. Market observers estimate the firm will ultimately control about 261.8 million XRP—though the figure remains unaudited. Still, the estimate has sparked discussions about how such a large-scale acquisition might affect overall XRP liquidity and market stability.
What This Means for Crypto Adoption
If Evernorth’s plan succeeds, it could mark a pivotal moment in expanding institutional access to altcoins beyond Bitcoin and Ethereum. By launching a publicly traded company with direct exposure to XRP, Evernorth could appeal to traditional investors seeking regulated crypto opportunities.
However, several challenges remain—regulatory clarity, market volatility, and the execution of DeFi-based yield models will all determine whether the firm’s bold strategy pays off. Analysts suggest monitoring how Evernorth’s treasury movements interact with broader XRP market flows in the months ahead.
