Evernorth XRP Treasury: $1B Raise to Expand XRP Adoption

Evernorth Holdings, backed by Ripple, has announced plans to raise over $1 billion, reports Coin Bureau. The company will merge with Nasdaq-listed SPAC Armada Acquisition Corp II. The goal is to create the biggest publicly traded XRP treasury. This move aims to boost XRP adoption and expand its use in the financial system.

BULLISH:

RIPPLE-BACKED EVERNORTH WILL RAISE OVER $1 BILLION TO BUILD THE LARGEST XRP TREASURY! pic.twitter.com/P6mqjHAdr9

— Coinvo (@ByCoinvo) October 21, 2025

What Is Evernorth?

Evernorth is a company based in Nevada. It plans to handle a large XRP treasury and grow its value over time. The firm will buy XRP on the open market. In addition, it will use both traditional finance strategies and decentralized finance (DeFi) tools to generate returns.

The company wants its shareholders to benefit while supporting the growth of the XRP ecosystem. CEO Asheesh Birla, a former Ripple executive, will lead the company and step down from Ripple’s board.

Funding and Key Partners

The $1 billion funding round includes major investors such as Ripple, SBI Holdings, Pantera Capital, Kraken, GSR and Ripple co-founder Chris Larsen. Furthermore, SBI Holdings is contributing $200 million.

These funds will help Evernorth grow its XRP holdings and make the network’s liquidity stronger. By securing these partnerships, the company sets itself to attract both retail and institutional investors.

Why XRP Matters

XRP is a cryptocurrency designed to facilitate fast and low-cost cross-border payments. It already has strong adoption among banks and payment providers. By building the biggest XRP treasury, Evernorth could increase XRP’s visibility and credibility in traditional finance.

Moreover, the treasury may help stabilize XRP markets by providing a transparent, regulated pool of XRP tokens. This can benefit investors and increase confidence in XRP as a long-term digital asset. Evernorth’s strategy shows how XRP can bridge the gap between crypto and institutional finance.

In addition, the treasury could encourage developers and businesses to build more products on the XRP Ledger. More use cases could include payments, stablecoin issuance and decentralized finance applications.

Market Impact and Investor Interest

Investors and analysts are closely watching this move. A large, publicly traded XRP treasury could influence liquidity, market sentiment and adoption. Institutions now have a way to gain XRP exposure without holding tokens directly, which could attract more traditional investors to the ecosystem.

The anticipated merger and listing are expected to close in the first quarter of 2026. The final steps depend on shareholder approval and regulatory review.

The Future of XRP with Evernorth

Once the deal is complete, Evernorth will focus on growing its XRP treasury and supporting adoption. The company hopes to expand the utility of XRP and make it a more mainstream digital asset.

This move makes Ripple’s position in global financial markets stronger. It also shows how crypto companies can collaborate with traditional finance to increase trust and transparency. For XRP, the treasury could be a game-changer, signaling a new phase of institutional adoption and market maturity.

Overall, Evernorth’s plan shows the potential of combining blockchain technology with public markets. By focusing on XRP, the company is helping to create more opportunities for investors, developers and the broader crypto ecosystem.