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Japan's SBI Holdings has confirmed a $200 million investment in Evernorth, a first of its kind institutional vehicle built to accelerate XRP adoption.
In a recent tweet, Chairman and CEO of SBI Holdings Yoshitaka Kitao shared a release from the company in this regard. In the release, SBI Holdings disclosed its investment in Evernorth's private placement alongside Ripple, its key partner, and others.
Evernorth intends to raise a total of more than $1 billion, of which SBI Group says it will invest $200 million in cash.
The funds raised will be used primarily to purchase XRP on the open market and build one of the world's largest public XRP treasuries. This treasury will not simply hold XRP but will actively utilize institutional lending and DeFi to aim for continuous asset value growth.
SBI Group reiterates its support for XRP, saying it has encouraged the practical application of XRP both domestically and internationally for many years, including the establishment of SBI Ripple Asia, a joint venture with Ripple.
XRP Ledger scores new integration
In a recent tweet, RippleX shares the news of XRP Ledger's latest integration with Brale.
Brale, a platform that allows users to issue their own stablecoin, is now live on the XRP Ledger, bringing stablecoin issuance and Ripple USD settlement to businesses.
With the integration, businesses can use Brale to issue and manage regulated stablecoins — whether backed by U.S. dollars or other supported currencies — directly on the XRPL through the same simple API they already use for payments (including on-ramps, off-ramps and wallet infrastructure for custody and settlement).
Brale also integrates Ripple USD (RLUSD), Ripple's USD-backed stablecoin, allowing companies to settle in RLUSD available on the XRP Ledger and Ethereum.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team