Brad

Armada

Spot

<p>Evernorth Holdings, the new institutional platform backed by Ripple veterans and major crypto investors, is going public with a different playbook: building an active XRP treasury instead of simply tracking token prices. The Nevada-based company announced its merger with Armada Acquisition Corp II, securing over $1 billion in expected proceeds to fund open-market XRP purchases and ecosystem growth.</p>
<p>Unlike a traditional ETF, Evernorth aims to increase the amount of XRP per share by deploying its treasury into lending and liquidity operations.&nbsp;</p>
<p>The model echoes traditional asset management strategies but applies them to blockchain markets, a sign that institutional finance is moving past passive exposure and into active participation.</p>
<p>CEO Asheesh Birla, a longtime Ripple executive, said Evernorth was created to “capitalize on institutional demand for compliant, yield-generating digital assets.”&nbsp;</p>
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   <p>I’m proud to share that we’ve launched <a href="https://twitter.com/evernorthxrp?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@evernorthxrp</a>, a first-of-its-kind institutional vehicle built to accelerate XRP adoption. With over a decade of uptime and a rapidly growing DeFi ecosystem, XRP is well-positioned for adoption — and Evernorth is built to meet that moment.… <a href="https://t.co/2YGgQsNWCd" rel="noopener noreferrer nofollow">pic.twitter.com/2YGgQsNWCd</a></p>— Asheesh Birla | CEO at Evernorth (@ashgoblue) <a href="https://twitter.com/ashgoblue/status/1980244617397457381?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 20, 2025</a>
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<p>Evernorth’s strategy focuses on utility-driven growth through payments, lending, and DeFi participation. Ripple CEO Brad Garlinghouse said, “Asheesh and team are building something special with Evernorth”.</p>
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   <p>Asheesh and team are building something special with <a href="https://twitter.com/evernorthxrp?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@evernorthxrp</a>. We are proud to partner with him — and proud to join an incredible set of investors including SBI Holdings, Pantera Capital, Kraken, GSR and Rippleworks, to support Evernorth as it participates in institutional… <a href="https://t.co/qeAqXtmQcV" rel="noopener noreferrer nofollow">https://t.co/qeAqXtmQcV</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1980253080550564200?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 20, 2025</a>
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<h2 class="wp-block-heading" id="active-treasury-model-signals-new-institutional-playbook">Active treasury model signals new institutional playbook</h2>
<p>Evernorth’s launch reflects a institutional trend, with crypto increasingly viewed as part of emerging liquidity management frameworks rather than purely speculative markets. By positioning XRP as a yield-bearing treasury asset, Evernorth blends traditional finance with blockchain tools, echoing early Bitcoin treasury models but with an added yield focus.</p>
<p>Evernorth’s debut aligns with Ripple’s expansion, as XRP gains institutional traction. <a href="https://www.cryptotimes.io/2025/10/13/cme-group-launches-solana-and-xrp-options-trading/" target="_blank" rel="noopener noreferrer nofollow">XRP futures on CME</a> have surpassed $3 billion in volume, with regulated products now spreading across global markets.</p>
<p>If July’s XRP futures fed market frenzy, Evernorth’s treasury model seeks to channel that volatility into strategy, positioning XRP as capital, not just chatter.</p>
<p>Also read: <a href="https://www.cryptotimes.io/2025/10/19/xrp-futures-etfs-debut-while-market-eyes-spot-approval/" target="_blank" rel="noopener noreferrer nofollow">XRP Futures ETFs Debut While Market Eyes Spot Approval</a></p>

Evernorth Launches XRP Vehicle Ahead of Nasdaq Listing

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The Crypto Times

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