In 2025, digital asset treasuries (DATs) experienced an explosive growth as publicly listed companies engaged in a fierce competition to incorporate digital assets into their balance sheets. A notable standout in this trend was XRP. In June, Singapore-based Trident Digital unveiled its plan to raise funds for a $500 million XRP treasury. Shortly before this, Webus International announced the creation of a $300 million XRP reserve to support its global driver payment network. Joining the trend, Saudi Arabia’s VivoPower International declared its intent to establish a $121 million XRP treasury.
Evernorth Debuts on Nasdaq with the Symbol “XRPN”
October marked a significant milestone as Evernorth, through a merger with Armada Acquisition Corp II, entered the market with a target of $1 billion in gross revenue. This merger led to the formation of a new entity, becoming the institution with the world’s largest publicly held XRP treasury. As of October 30, Evernorth began trading on the Nasdaq exchange under the symbol “XRPN.” Asheesh Birla, Evernorth’s CEO, emphasized that this move would instill corporate trust in the digital asset sector.
Ripple announced that CTO David Schwartz will join CEO Asheesh Birla of Evernorth and Michael Arrington of Armada Acquisition/Arrington Capital at the Swell 2025 event on November 4-5. They will be part of a session titled “The Rise of DATs,” where significant insights into the future of XRP and Evernorth’s new strategic direction are anticipated.
Ripple’s Latest Acquisition: The GTreasury Deal
Ripple made waves in the financial technology sector last month with a groundbreaking move. The company announced the acquisition of Chicago-based treasury management software provider GTreasury for a staggering $1 billion. This strategic acquisition is viewed as part of Ripple’s aim to bolster its influence within the corporate finance sector. Ripple executives suggest that the integration with GTreasury will enable global companies to transition their digital asset management processes to an XRP-based infrastructure.
Market Outlook and Future Considerations
The global rise in digital asset treasuries indicates a resurgence of XRP’s strength in the corporate realm. With Evernorth’s debut on Nasdaq, Ripple’s billion-dollar acquisition, and major corporations forming XRP reserves, it highlights the institutional-level confidence in the cryptocurrency ecosystem. However, the sustainability of this growth trend will be contingent upon regulatory developments and the overall stability of the crypto market.