A Major Move by Ripple-Backed Evernorth
Evernorth, a company backed by Ripple, is preparing for a major financial move — a public listing in the United States. The crypto firm is reportedly targeting a fundraising goal of over $1 billion. This IPO is not just about capital; it’s a strategic effort to solidify Evernorth’s position in the digital asset industry, with a specific focus on XRP.
The firm’s ambition doesn’t stop at going public. Evernorth plans to establish the largest publicly held XRP treasury, signaling a bold commitment to the Ripple ecosystem. This could significantly increase XRP’s visibility and institutional adoption.
NEW: Ripple-backed Evernorth plans a US listing, aiming to raise over $1B and build the largest public $XRP treasury. pic.twitter.com/kT68yJN98k
— Cointelegraph (@Cointelegraph) October 20, 2025
Building the Largest Public XRP Treasury
What sets this move apart is Evernorth’s goal to amass the biggest XRP treasury among publicly listed firms. XRP, Ripple’s native token, has seen fluctuating adoption in recent years due to ongoing legal battles and regulatory scrutiny. However, this move could act as a confidence booster for investors and institutions considering XRP exposure.
By holding a large amount of XRP on its balance sheet, Evernorth could bring more legitimacy and liquidity to the token. It also suggests that Ripple and its allies are pushing to create more use cases and strongholds for XRP, especially within the U.S. market.
Ripple’s Strategic Expansion in the U.S.
Ripple’s support for Evernorth’s IPO aligns with its broader goal of expanding the XRP ecosystem, particularly in the U.S. Despite regulatory hurdles, Ripple has remained bullish on XRP’s future. The Evernorth listing would give Ripple a public partner strongly aligned with its vision, potentially encouraging other institutional players to follow suit.
This initiative could also influence how digital asset companies approach treasuries and public listings, especially with a focus on utility tokens like XRP.