Evernorth, the leading XRP treasury company, has outlined an active yield generation strategy for investors as it prepares to list on the Nasdaq under the ticker ‘XRPN’. CEO Asheesh Birla explained in a recent interview that the firm aims to differentiate itself from other digital asset treasuries (DATs) by focusing on an active treasury management system that will produce yields immediately upon going public.
Birla, speaking on the Paul Barron Network, said Evernorth is an easy vehicle for institutions to gain exposure to XRP without directly holding the cryptocurrency. The company is a major proponent of the XLS-66 amendment within the XRP Ledger, which would enable an institutional lending protocol for yield generation. He emphasized that the firm is uniquely positioned to bring traditional capital on-chain, as many institutions would prefer to access XRP through a publicly traded stock rather than direct crypto custody.
The company’s latest SEC filing reveals it plans to launch with corporate XRP holdings of at least 473 million XRP at the closing of the business combination. This includes 126.8 million XRP contributed by Ripple as a primary backer, and 84.3 million XRP purchased at an average price of $2.5 per token using $214 million in aggregate cash proceeds. Ahead of the listing, Evernorth has also announced four board directors, including Ripple Chief Legal Officer Stuart Alderoty and OpenAI Foundation CFO Robert Kaiden.
At the time of reporting, XRP is trading around $1.41, up in the last 24 hours. The listing and yield strategy are seen as a major step in bridging institutional capital with the XRP ecosystem.
