Evernorth CEO Asheesh Birla is calling on businesses to rethink how they use XRP, arguing that digital assets should generate returns rather than sit passively on corporate balance sheets.
Speaking with CoinPost at WebX 2026 in Japan, the former Ripple executive outlined Evernorth’s strategy to build yield-generating opportunities on the XRP Ledger (XRPL). He said the company sees XRP as an active financial asset and believes tokenized real-world assets (RWAs) will become a major driver of blockchain adoption.
Evernorth Sees XRP as a Productive On-Chain Asset
Birla said Evernorth’s approach differs from traditional digital asset treasury strategies that focus primarily on accumulating cryptocurrencies.
Instead, the company plans to use decentralized finance (DeFi) tools on the XRP Ledger to help businesses earn returns from their XRP holdings. According to Birla, blockchain technology offers greater value when digital assets are actively deployed rather than simply stored.
He believes more companies will seek ways to generate yield from tokenized assets as blockchain-based financial infrastructure continues to mature.
XRP Ledger’s Tokenized Asset Market Expands
Birla highlighted the rapid growth of tokenized real-world assets on the XRP Ledger as evidence of increasing institutional interest.
According to him, the value of RWAs on XRPL has climbed to approximately $3.6 billion, representing around 24-fold growth over the past year. He said the expansion reflects growing confidence in tokenization as financial institutions explore blockchain-powered capital markets.
Rather than viewing XRP solely as a treasury reserve, Birla expects companies to increasingly use it within broader on-chain financial strategies.
RLUSD Driving More Activity on XRPL
Birla also pointed to Ripple’s U.S. dollar-backed stablecoin, RLUSD, as another catalyst for activity on the XRP Ledger.
He said transactions involving U.S. dollars and RLUSD have increased 12-fold since the stablecoin’s launch. Currently, about 54.74% of RLUSD circulates on XRPL, while the remainder exists on Ethereum.
Birla expects more stablecoin activity to migrate to the XRP Ledger as adoption grows, emphasizing that regulated dollar-backed stablecoins will play an important role in tokenized financial markets.
Japan Expansion and Nasdaq Listing Plans
Beyond its blockchain strategy, Evernorth continues expanding internationally.
The company has secured more than $1 billion in funding, including a $200 million investment from SBI Holdings, strengthening its presence in Japan.
Birla also confirmed Evernorth has filed updated S-4 documents with the U.S. Securities and Exchange Commission as it works toward a planned Nasdaq listing through its merger with Armada Acquisition Corp. II.
He said becoming a publicly traded company would allow investors to gain exposure to blockchain finance through traditional equity markets without directly holding XRP.
