Evernorth Holdings has accumulated more than $1 billion in XRP tokens, establishing itself as one of the largest institutional holders in the ecosystem. The digital asset treasury firm received approximately 338 million XRP from Ripple Labs and an additional 50 million from early investor Chris Larsen. Evernorth plans to list on Nasdaq via SPAC merger under the ticker XRPN by Q1 2026.

Ripple has launched Ripple Prime, an institutional brokerage platform, following its $1.25 billion acquisition of Hidden Road completed in October 2025. The platform integrates multi-asset trading, custody, and collateral services with Ripple's payment infrastructure and RLUSD stablecoin. Michael Arrington, founder of Arrington Capital, described the acquisition as Ripple's smartest move to date, citing synergies between Hidden Road's brokerage capabilities and Ripple's blockchain technology.