Evernorth: “XRP Is Central to Next-Generation Finance…A Downturn Is a Buying Opportunity” [Cointerview]

“We believe XRP will be a core asset in building next-generation financial products. Evernorth has begun accumulating XRP to address problems in today’s financial system.”

Asheesh Birla, founder of Evernorth, said this in an interview with BloombergBit on the 13th, explaining why he chose XRP as a strategic asset. Birla joined Ripple in 2013 and played a key role there, served as a member of Ripple’s board from 2022 to 2025, and founded Evernorth last year.

Evernorth is a company that accumulates XRP as a strategic asset. It launched after securing $1 billion in funding last year and has purchased about 390 million XRP. It is currently in the final stages of completing a merger with the SPAC (special purpose acquisition company) “Armada Acquisition Corporation II,” and once the merger is completed, it is expected to list on U.S. exchanges under the ticker “XRPN.”

We spoke with Birla about why Evernorth is accumulating XRP, as well as the company’s short- and long-term goals.

To Fix Inefficiencies in Traditional Finance

Birla’s entry into the crypto industry traces back to the 2007 subprime mortgage crisis. “Watching problems at a handful of financial institutions shake the entire financial system made me feel we needed a more transparent and efficient financial infrastructure,” he said, adding, “After meeting Chris Larsen, a Ripple co-founder, in San Francisco, I became fascinated by blockchain-based financial innovation and joined Ripple.”

Birla explained that this sense of mission carried him from Ripple to founding Evernorth. “The traditional financial system still hasn’t fundamentally changed much over the past several decades,” he said, adding that “Evernorth is a company that aims to take the lead in solving these problems by accumulating XRP.”

Specifically, Evernorth is pursuing a strategy that goes beyond simply holding XRP: it plans to generate returns by deploying its holdings and then channel those returns into additional purchases. “We will generate returns by deploying XRP and, on that basis, continue to secure more XRP,” Birla said.

He added, “Recently, we’ve been looking to build a DeFi (decentralized finance) ecosystem based on XRP to draw institutional capital,” saying, “DeFi hasn’t been institutions’ choice due to risks including the regulatory environment, but if DeFi is built on the highly trusted XRP Ledger, we can bring institutions in.”

He cited the lending protocol “XLS-66” within the XRP ecosystem. “As a first step, we plan to incorporate XLS-66 into Evernorth’s solutions,” he said, adding, “If a lending structure that institutions can use is put in place on the XRP Ledger, it could become an opportunity for idle assets to be converted into on-chain liquidity.”

XRP’s Pullback Is an Opportunity

Birla expressed strong confidence in XRP.

Asked what he thinks about the market turning bearish, he said, “Markets always go up and down,” adding, “What matters is not the short-term price, but the long-term direction.” He continued, “Institutional investors’ interest is gradually being confirmed through recent XRP ETFs,” adding, “If you look at the future of the financial infrastructure XRP will build, a pullback like the current one can instead be seen as an opportunity.”

He also said there is no need to worry that the rise of stablecoins (crypto assets pegged to fiat currencies) will dilute XRP’s value. “Stablecoins are not so much competitors to XRP as they are a gateway into the blockchain ecosystem,” he said, adding, “The more stablecoins spread, the more companies and capital can flow on-chain.”

He added, “In the end, what matters is which financial products are created on which blockchain,” and said, “As more stablecoins and tokenized assets expand on the XRP Ledger, the overall ecosystem grows, which can also have a positive impact on demand for XRP.”

Korean XRP Investors Are Unmatched…Considering Entry

Birla said he is also aware of Korean investors’ strong interest in XRP. “Korean investors’ interest in XRP is astonishing,” he said, adding, “Even globally, Korea’s XRP community is unmatched.”

On the possibility of entering Korea, he said, “We are actively considering it.” Birla said, “Korea is a market where both the regulatory environment and investor sophistication are high,” adding, “If the right partners and environment are in place, we would like to seriously pursue entering the Korean market.”

Finally, he told Korean investors, “From the perspective of individual investors, directly holding crypto assets can still feel difficult and complicated,” adding, “A company like Evernorth can be a new way to participate in the XRP ecosystem.”

He continued, “If a structure that is easy to access like stocks is created, more investors will be able to take part in XRP-based financial innovation,” adding, “This will ultimately have a positive effect on expanding the XRP ecosystem as well.”