Under the current administration the regulatory agency has taken a new crypto-friendly approach, also dropping lawsuits against other key players in the industry.
Evernorth has stated that the anticipated merger, expected to be finalized in the first quarter of 2026, will establish it as the largest publicly traded XRP treasury company. On the matter, Evernorth’s CEO Asheesh Birla stated:
Evernorth is built to provide investors more than just exposure to XRP’s price. As we capitalize on existing TradFi yield generation strategies and deploy into DeFi yield opportunities, we also contribute to the growth and maturity of that ecosystem. This approach is designed to generate returns for shareholders while supporting XRP’s utility and adoption. It’s a symbiotic model: our strategy is designed to align with the growth of the XRP ecosystem.
The deal has garnered the participation of Ripple co-founder Chris Larsen, as well as notable digital asset firms like venture capital firm Pantera Capital, and cryptocurrency exchange Kraken.
Ripple aims to provide solutions that allow corporations to unlock idle capital, leveraging the multi-trillion-dollar global repo market through partnerships, such as the one with prime broker Hidden Road.
As of this writing, XRP is trading at $2.47, up nearly 3% over the past 24 hours as the broader crypto market sees a slight recovery from last week’s crash, which brought fear and uncertainty back to the industry.
Featured image from DALL-E, chart from TradingView.com
