Ripple-Backed Evernorth to Expand XRPL Adoption

Evernorth and Doppler Finance announced Thursday a new tie-up that is meant to build out the necessary "plumbing" for streamlining the institutional adoption of the XRP token. 

The main aim is to turn the popular altcoin into a yield-generating asset for corporate treasuries.  

The core players 

Evernorth is a newly public digital asset treasury company that holds over $1 billion in XRP. 

It aims to make it easier for Wall Street to gain compliant exposure to XRP with  backing from Ripple and Japanese  financial behemoth SBI Holdings. 

Doppler Finance is a leading provider in the "XRPfi" (XRP DeFi) space. They build the technical infrastructure that allows institutions to earn yield on their XRP holdings.

The partnership focuses on professionalizing the XRP Ledger (XRPL) for institutional capital. This includes establishing institutional liquidity frameworks, ensuring active treasury management, structured risk management as well as archiving global market expansion. 

Evernorth CEO Asheesh Birla, a former Ripple executive, claims that further institutional adoption requires structure, clarity as well as real economic utility. 

He believes institutions are ready to stop "circling" and start using XRP in active production.  

A yield-generating asset 

Historically, XRP has primarily been a transaction medium for payments. This collaboration introduces institutional-grade frameworks that allow large holders to earn regulated returns on their XRP.

Institutions can now use XRP as a productive financial asset. 

“It is really significant that this collaboration is aimed to further institutional liquidity and treasury use cases on the XRPL. This is consistent with Evernorth’s strategy announced last October that it would participate in projects that expand XRP’s real world utility.,” analyst Bill Morgan said in a recent tweet. 

In late 2025, Asheesh Birla stated 2026 could be the beginning of Institutional DeFi.  He predicted that the next phase of digital assets would be “institutional, global, and value-driven.”