Evernorth, an XRP-focused digital asset treasury firm backed by Ripple and SBI Holdings, has announced a strategic collaboration with Doppler Finance to develop institutional liquidity and treasury systems on the XRP Ledger (XRPL). The partnership, announced on January 9, 2026, aims to create structured frameworks for deploying XRP capital onchain at scale.
The collaboration focuses on designing and testing models for institutional liquidity deployment and treasury management on XRPL. The work will center on structured liquidity deployment, potential treasury management strategies, and building the commercial, operational, and technical foundation needed for sustained institutional engagement. Doppler Finance provides the institutional-grade onchain infrastructure, while Evernorth brings its position as one of the largest public XRP treasury firms.
Asheesh Birla, CEO of Evernorth, stated, "The next phase of XRPL adoption will be driven by institutions that demand clarity, structure, and real economic utility. By collaborating with Doppler, we are advancing practical frameworks for deploying institutional XRP liquidity onchain, with the goal of setting a higher standard for how XRP is used, managed, and scaled across global markets."
Rox, Head of Institutions at Doppler Finance, framed the partnership as a step toward making XRP a balance-sheet asset with an onchain yield profile that meets institutional requirements. "Working with Evernorth represents a meaningful step forward in expanding institutional participation across the XRP Ledger. By aligning institutional liquidity with robust infrastructure and disciplined risk frameworks, we aim to unlock XRP’s full potential as a scalable, yield-generating asset for global markets," Rox said.
The partnership also includes coordinated strategic communications and market-facing initiatives, such as joint announcements, publications, and offline engagements. The objective is to accelerate adoption and reinforce confidence in XRPL-native financial infrastructure, targeting both institutional and retail participants globally.
In a related development, Ripple CEO Brad Garlinghouse has joined Evernorth as a strategic adviser. Furthermore, Evernorth expects to become a publicly traded digital asset treasury following the closing of a business combination agreement with Armada II. The company aims to provide investors with regulated exposure to XRP while actively growing its XRP per share through a mix of institutional and DeFi yield strategies, ecosystem participation, and capital markets activities.
At the time of the announcement, XRP was trading at $2.11.
