Rather than merely holding the token, Evernorth intends to actively manage its XRP treasury. According to strategy documents, the company plans to utilize decentralized finance and institutional lending.
Cryptocurrency researcher SMQKE highlighted these strategies in a post on X, drawing from an SBI Group presentation that outlines how Evernorth manages its reserves.
Quoting the document, SMQKE noted that “Evernorth will implement active measures to increase XRP’s value,” pointing to institutional lending and DeFi as core operational pillars. The researcher shared documented evidence, including an image from the SBI Group detailing the proposed initiatives.
According to the SBI Group presentation, Evernorth completed a PIPE investment with a U.S. company that will participate in the XRP treasury venture alongside Ripple Inc. and other stakeholders. Additionally, Evernorth intends to run an XRP Ledger validator, with its financial statements subject to independent audits by a major accounting firm.
SBI Group Invests $200 Million
The presentation also outlines the company’s funding structure. The SBI Group contributed $200 million in cash, bringing Evernorth’s total capital raised to over $1 billion through a mix of cash and spot XRP.
Contributors to the funding round include Ripple, Chris Larsen, various crypto exchanges, and institutional investors. The documentation reiterates that instead of taking a passive buy-and-hold approach, Evernorth aims to actively boost the value of its assets.
To achieve this, the company highlights institutional lending and decentralized finance as primary mechanisms. These methods allow Evernorth to put its XRP holdings to work while staying true to its treasury model.
Furthermore, the presentation notes that Evernorth plans to complete a business combination with Armada Acquisition Corp. II—a special purpose acquisition company—allowing it to debut on the U.S. Nasdaq under the ticker symbol XRPN.
Evernorth Sets Out Nasdaq Timeline
Responding to SMQKE, social media user XRPBROJJEDAN outlined a schedule for the Nasdaq listing, stating that the SPAC deal is expected to close on October 7, with trading under the XRPN ticker slated to begin on October 8.
Conversely, a commenter named Duke offered a skeptical viewpoint. Duke criticized long-standing bullish predictions surrounding XRP, arguing that commentators frequently profit from promoting optimistic narratives and often present speculation as certainty.
Nevertheless, SMQKE’s commentary centered on the operational roadmap provided by the SBI Group, emphasizing Evernorth’s shift from passive holding to active participation in DeFi and lending. Should these plans materialize, they will offer a distinct framework for how an XRP-focused treasury can generate utility from its reserves.