Evernorth Holdings has brought Ripple CEO Brad Garlinghouse on board as a strategic advisor. The Nasdaq-listed company, which trades under the ticker XRPN, has built its entire business around holding XRP.
Garlinghouse is not arriving alone. Ripple executive Stuart Alderoty and former Ripple CTO David Schwartz are also joining in advisory roles.
Who’s joining and why it matters
The appointments were made public in January 2026. According to the company, the advisors are meant to keep Evernorth closely aligned with the broader XRP ecosystem while maintaining Evernorth’s operational autonomy.
The treasury behind the ticker
Evernorth came together through a business combination with Armada Acquisition Corp. II, a special purpose acquisition company. The deal was formed in October 2025.
Through that process, Evernorth raised over $1 billion. Of that total, $200 million came from Japanese financial group SBI Holdings.
The company holds approximately 473 million XRP on its balance sheet. Those holdings were valued at approximately $648 million at the time that figure was reported.
Evernorth’s playbook has a few parts. It buys XRP on the open market, aims to generate yield through institutional strategies, and plans to participate in on-chain activity as the XRP Ledger develops.
The partnership web
To put that treasury to work, Evernorth has lined up partnerships with Ripple, Kraken, Coinbase and BitGo. The goal is to deploy its XRP into institutional strategies.
The company is also working with Doppler Finance. That collaboration is intended to strengthen liquidity and treasury management on the XRP Ledger.
Overseeing all of this is CEO Asheesh Birla, a former Ripple executive. Birla played a key role in expanding Ripple’s cross-border payments business.
Background: the rise of the crypto treasury company
Evernorth positions itself as a regulated public-market vehicle, differentiating itself from direct token investments. The company describes its focus as institutional treasury creation, blending traditional finance with crypto-native investment approaches.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.