Ripple CEO Reveals $1 Billion XRP Treasury Backed by Powerhouses Like SBI and Kraken!

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In a move that could make you wonder whether Brad Garlinghouse is secretly a time traveler, the Ripple CEO has confirmed support for Evernorth, an XRP-focused behemoth that plans to raise more than $1 billion and list on Nasdaq via a merger with Armada Acquisition Corp II. Hold onto your seats – the deal is expected to close in Q1 of 2026, with the combined entity trading under the ticker XRPN. Sure, it’s a bit far in the future, but who doesn’t love a bit of suspense, right?

Evernorth will spend its net proceeds on one thing and one thing only: acquiring XRP on the open market. This treasure hunt will create the largest institutional treasury ever dedicated to XRP. The remaining funds? Well, they’ll be used for “corporate purposes” and transaction costs, but let’s face it, we all know that the real treasure is the XRP. 💰

“Asheesh and team are building something special with @evernorthxrp. 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…”

– Brad Garlinghouse (@bgarlinghouse) October 20, 2025

And if you think this is just Ripple riding solo, think again. The $1 billion initiative has a crowd of heavyweights behind it. The Japanese SBI Group is leading the charge with a cool $200 million commitment, while Pantera Capital, Kraken, GSR, and RippleWorks are also in on the action. Oh, and did we mention Ripple cofounder Chris Larsen is involved too? It’s like the Avengers of crypto finance. 🦸‍♂️🦸‍♀️

Ripple itself is a strategic investor (they’re not just standing by idly), while Garlinghouse, Chief Legal Officer Stuart Alderoty, and CTO David Schwartz are getting all advisory and “here’s what you need to do” with Evernorth.

What’s in it for XRP?

Now, let’s talk benefits – Evernorth’s CEO Asheesh Birla (formerly of Ripple, by the way) has big dreams for the firm. He wants Evernorth to be seen as an active treasury, working tirelessly to expand XRP shares through institutional lending, liquidity, and DeFi strategies. In other words, he’s out here trying to make XRP the financial MVP of the century. 🏆

Ripple will still have a hand in the game, but don’t worry – they plan to make things even more streamlined in the XRP ecosystem. It’s like they’re preparing for a smoother, more efficient crypto future. Maybe even one where crypto is as common as coffee. ☕

Both companies have already secured board approvals. If this goes ahead, it will mark the first public company dedicated to accumulating and deploying XRP on a truly massive scale. And if that doesn’t sound like a seismic shift in the crypto world, I don’t know what does. 🚀

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2025-10-20 18:13