Key Notes
SBI Holdings leads a $200 million commitment alongside Ripple, Pantera Capital, and Kraken, with Brad Garlinghouse serving as strategic advisor.
The company will actively manage XRP holdings through institutional lending and DeFi yield generation rather than operating as a passive ETF vehicle.
Evernorth's $1 billion commitment dwarfs existing corporate XRP treasuries like VivoPower's $100 million and Nature's Miracle's $20 million allocations.
On October 20, Evernorth Holdings Inc. announced it will go public via a SPAC merger with Armada Acquisition Corp II. The company aims to build the world’s largest institutional XRP XRP $2.51 24h volatility: 4.6% Market cap: $151.59 B Vol. 24h: $4.08 B treasury. Both companies’ boards unanimously approved